Embracer-owned studio Lost Boys Interactive has unfortunately announced layoffs that will affect its employees across several states. In a statement on LinkedIn, the studio stated, “The need to adapt to shifting market conditions within the video game industry has required us to reassess our operations to align with the evolving needs of our business and our partners.”

They have assured to support the affected staff in finding new positions as quickly as possible and have committed to collaborating with other studios and recruiters to help connect them with job opportunities. Currently, there’s no word on the number of people let go in this latest round of layoffs.

Lost Boys Interactive, known for its work on titles like Tiny Tina’s Wonderlands, Diablo IV, and PUBG, suffered a heavy round of layoffs in January as well. The company was acquired by Gearbox Software in 2022 under the ownership of Embracer. Although Gearbox was divested by Embracer earlier this year, Lost Boys remained with the Swedish conglomerate, which reduced its headcount by 4,500 employees and cancelled 80 projects during the last fiscal year.

Despite this, Lost Boys has emphasized that it remains focused on delivering full development services to its current partners and clients, and ongoing titles won’t be impacted by the latest cuts.

The game industry has seen several such layoffs recently, with Rocksteady Games also announcing job cuts this month. Following news of the Lost Boys layoffs, it’s estimated that over 12,000 job cuts as of this year.