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Layoffs at Gearbox-owned studio Lost Boys said to be “massive”

Embracer is continuing right where it left off last year
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A “sizable” amount of employees were let go by development studio Lost Boys Interactive this past Friday, according to a report by Aftermath based on a number of posts by those affected.

Working as a support studio on games like Diablo 4 and Tiny Tina’s Wonderlands Lost Boys was acquired by Gearbox in 2022, which roughly doubled the studio’s total workforce from over 200 to more than 400 employees. Gearbox itself, of course, is owned by Embracer Group, which is on a mission to massively cut costs at the moment.

Tiny Tina from Tiny Tina's Wonderlands holding an axe.

Embracer continues to be the grim reaper for gaming jobs.

In November 2023, the terrifying tally of this program was already at over 900 terminated jobs. Studios like Volition, Campfire Cabal, and Free Radical Design were closed outright during this thorough restructuring effort.

Severe cuts have been made at New World Interactive ahead of the holiday season as well and it looks like the measures at Lost Boys are similar – not a total closure, but a massive trimming of manpower. There currently is no information of the exact scale of these terminations, only that affected workers called them “massive” and “sizable,” saying that no divisions or experience levels remained unaffected.

These layoffs rounded out another disastrous week in the tech and gaming industries for many former employees with similar actions at Unity, Twitch, and Discord.