Lightforge Games has announced it's cutting the "majority" of its staff by the end of the month, and is pausing development on its upcoming title Project ORCS.
In a post shared on LinkedIn yesterday, co-founder and CEO Matt Schembari said that a "skeleton team" would remain to oversee the future outcome of the studio.
"We always knew this was an ambitious long-shot of a project, but we pursued it because of a shared passion in collaborative storytelling and with a fearlessness to do something different both as a project and as a studio," wrote Schembari.
In a separate post by the studio, the firm said it was "unable to secure the necessary funding" to finish the game, resulting in the pause in development and job losses.
"We're making this call now so that we can provide support to our wonderful team of devs: providing them with time to stabilise, working together to help folks as they re-enter the job market, and finding new positions to continue our passion for making games," it added.
Lightforge Games was founded in May 2021 by former Epic Games and Blizzard Entertainment developers after raising $5 million in investment.
Sign up for the GI Daily here to get the biggest news straight to your inbox
Read more on gamesindustry.biz