Free Radical Design, the company tasked with making a TimeSplitters reboot, has closed its doors, according to employee statements acquired by Eurogamer.Ex-staffers have also taken to social media to announce the closure.
The company was reformed back in 2021 specifically to develop new games based on the long-defunct TimeSplitters franchise. However, parent company Embracer Group has been on a cost-cutting spree these past few months, reducing its overall headcount by more than 900 people.
Embracer CEO Lars Wingefors addressed the closure in an email to staffers, expressing “gratitude” for the “remarkable work” the team has done. Wingefors went on to say that the parent company looks to support laid-off employees “as much as we can during this transition.” There are no details, however, regarding severance pay or anything like that. It looks like more than 50 people lost their jobs due to the closure, which is a monumental bummer.
Another bummer is that this likely means the death of the TimeSplitters franchise for the time being, though maybe another company will snap up the IP at some point. The original incarnation of Free Radical went bankrupt in 2008 before being temporarily revived to handle the reboot.
This isn’t the only company that Embracer sent packing this year. It abruptly closed Saints Row developer Volition back in August and is reportedly looking to sell Borderlands developer Gearbox. Embracer previously acquired Gearbox for around $363 million as part of a larger deal valued at $1.4 billion.