Thunderful Group, the parent company of studios like SteamWorld developer Image & Form, has announced major layoffs as part of a "restructuring program".
In a press release on its official website, Thunderful says it's looking to cut "approximately 20 per cent of the workforce", which, if the company's 2022 employee numbers are still roughly accurate, means just under 100 staffers will lose their jobs.
As well as "significant staff reductions", Thunderful says it'll also be engaging in "evaluation of divestment of non-strategic assets", suggesting some studios could be sold off in the near future.
Thunderful says it's made "over-investments...in the last few years" which have resulted in the company "being particularly affected by challenging market conditions".
The studio's current investments are unsustainable, according to Thunderful, resulting in the company "taking action to review investments and adapt its cost structure".
CEO Martin Walfisz, who joined Thunderful last fall, says he's saddened by having to "say goodbye to many skilled colleagues", but that the decisions he and the company have made had "no alternative".
These layoffs are far from the only ones that have happened in the gaming industry in recent months.
In January alone, layoffs at Embracer studios Lost Boys Interactive and 3D Realms, as well as other studios like Bossa and Archiact, have been reported.
Other studios hit by layoffs in recent months include gaming giant Hasbro, Amazon's gaming division, and Destiny 2 developer Bungie, and they're just a few of the companies letting staff go.
Some studios have been closed outright, too, including Saints Row developer Volition (another company under the Embracer umbrella) and Stray Souls developer Jukai Studio, as well as the latter's publisher Versus Evil.
We'll have to see what lies in wait for Thunderful and its properties going forward. Stay tuned for more news on this and all other things industry-related.
