South Korean developer NCSoft hit with layoffs, cancels multiple projects
NCSoft, the South Korean developer behind Guild Wars and the recently released Throne & Liberty, is the latest company to face layoffs and project cancellations after it was said to be "deteriorating" financially.
The details:
As reported by Yonhap (via IGN), NCSoft co-CEOs Taek-Jin Kim and Byung-Moo Park stated that the company was "at risk of falling into a chronic deficit company," and apologized to those affected by the layoffs. “We feel a deep sense of responsibility and offer an apology to all employees,” the CEOs said. "As a result of operating in a way that most of the manpower and functions are concentrated at the headquarters, financial performance has continued to deteriorate and we are at risk of becoming a chronically loss-making company.”
Game Meca also reports that a company spokesperson confirmed that Project M, a thriller title with highly realistic visuals that was announced in 2022, would be scrapped. Minibus and Toguri Adventure will also be canceled, and the live-service brawler Battle Crush will be shutting down by the end of this year.
NCSoft announced earlier this week that it would be divided into four divisions: NCAI, Studio X, Studio Y, and Studio G, with Studio X overseeing its most recent major release, Throne & Liberty. There have been no comments regarding Guild Wars developer ArenaNet, which is currently working on Guild Wars 2 content while also developing the sequel.
It is also unclear whether the layoffs will have an impact on the development of the Horizon MMO, which the company announced last year in collaboration with Sony.
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