Sega has confirmed that Creative Assembly's Hyenas, as well as a number of other unannounced projects, will be cancelled due to "lower profitability" in Europe. Due to the cancellation, layoffs are also expected.

The details:

Sega stated in its latest financial update that the "lower profitability of the European region" prompted a review of its portfolios, which resulted in the cancellation of Hyenas and "some unannounced titles under development.”
Along with the canceled title, Sega has stated that it plans to reduce spending in Europe, including lowering costs at Creative Assembly through layoffs. The company has yet to confirm how many employees will be affected by the move, but Creative Assembly has stated that it will try to minimize job losses by relocating staff to other areas of the studio.
Hyenas was revealed last June as an extraction shooter in which players were tasked with defeating AI and human enemies in order to loot and secure pop culture merchandise such as Sonic the Hedgehog action figures and more. Set in space, the game appeared to have a lighthearted tone and an interesting twist on the hero shooter genre with its unique zero-gravity elements.

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Sega cancels Creative Assembly’s FPS "Hyenas,” with layoffs expected