A large portion of Lost Boys Interactive, a studio owned by Gearbox, has been laid off.
As Aftermath reported, the developer has employed more than 400 people but many of them took to LinkedIn to share news of the studio’s layoffs.
The layoffs are the latest in a restructuring program by Embracer, the parent company that owns Borderlands developer Gearbox (which in turn owns Lost Boys Interactive).
“It appears a large portion of Lost Boys Interactive was laid off today, including myself,” producer Jared Pace shared on LinkedIn last week. The subsequent layoffs “affected all specialties at all levels,” he said.
Eurogamer has contacted Gearbox and Embracer to clarify details of the layoffs.
Illustrator Greg Lambrakis and animator Ally Gehrer were among others on LinkedIn confirming they had lost their jobs.
“Yesterday was the hardest day of my career. Although I survived company-wide layoffs at Lost Boys Interactive, many talented artists and wonderful people were let go,” said Art Director Nick Baron.
Lost Boys Interactive is a tentpole studio founded in 2017 that has contributed to games like Tiny Tina’s Wonderlands, Diablo 4, Borderlands 3, and more. It was acquired by Gearbox in 2022.
Back in September of last year, Embracer was rumored to be considering selling Gearbox. Gearbox then emailed employees to say that “several options” were “under consideration.”
Multiple rounds of layoffs at Embracer-owned studios are part of the group’s “comprehensive restructuring programme” following the collapse of a $2 billion investment partnership with Saudi Arabia-financed Savvy Games.