Gravity Well, an independent studio founded by Respawn Entertainment alumni, has let go of the majority of its team after losing its funding.
The studio’s three leaders, Drew McCoy, Jon Shiring, and Mon Saetern, said in a LinkedIn post that it lost its funding this summer and is still searching for a new partner. As a result, “Gravity Well has had to say goodbye to the majority of our team – over 40 amazingly talented developers.”
“Everyone was informed of the situation as it was unfolding, and have been aware of this possibility if we were unsuccessful in finding new funding,” the statement said.
“We take it seriously that the team has stuck with us throughout this process, hopeful that we could find a solution before funds ran out. We are truly sad that we couldn’t get it done in time to keep the team together.”
A much smaller team will carry on as the studio continues to “fight for survival,” but it said its future is “uncertain” given the “current state of the industry.”
The studio also asked other companies to consider hiring those affected.