Phoenix Labs hit by another round of layoffs
Studio has entered a period of restructuring, over 140 workers affected according to former employee
Fae Farm developer Phoenix Labs has laid off "many" of its employees and reportedly canceled projects that were in development.
In a post shared to LinkedIn, the studio confirmed that it has entered a period of restructuring as a "last resort."
"After a long period of evaluating how to navigate our economic environment, we have had to significantly restructure the company to pave a path for a strong future," it wrote.
"This restructure has not come easily, and truly has been the last resort to ensure Phoenix Labs can survive, and thrive in the long term."
According to principal engineer Kris Morness who was caught up in the layoffs, over 140 employees have been let go.
Morness noted on LinkedIn that the studio was reportedly acquired by blockchain platform Forte over a year ago, and that it "canceled all projects in development including the game we were announcing in one month."
UX lead Noah Watkins also highlighted the game that was in development, noting that they'd been working on it for over five years.
This comes after a round of layoffs last December, which affected 34 employees across Phoenix Labs' publishing, HR, IT, and shared services divisions. It also made cuts to 9% of its workforce in May last year.