Another Studio Gone

[FyreeTSG]

WAVE GOODBYE AGAIN​

38 Studios, makers of Kingdom of Amalur: Reckoning, sent out an e-mail to its employees:

"The Company is experiencing an economic downturn. To avoid further losses and possibility of retrenchment, the company has decided that a company wide lay off is absolutely necessary. These layoffs are non-voluntary and non-disciplinary. This is your official notice of lay off, effective today, Thursday, May 24th, 2012."

--So chalk up another Gaming Studio losing itself in the current market.

To those wondering, 38 Studios was started by former MLB Pitcher Curt Schilling, and Comic Artist Todd McFarlane--started back in 2006--and they'd been fairly good at making their impact on the Industry, by acquiring Big Huge Games from THQ a few years ago, and hiring one of the Lead Designers for the game Everquest.

But what was a BIG sign in the companies eventual downfall, was when they had to get a 75 Million Dollar loan from Rhode Island--which included a guarantee to boost the Companies employment--and boost development.

Due to the fact that the Studio couldn't make a Weekly payment of just over $1 Million, they were forced to take it from the Payroll--which inevitably lead to closing their doors.


----FyreeTSG

Source:
screwattack.com

See More on 38 Studios:
Wikipedia.org