Until Dawn remake developer Ballistic Moon has "effectively closed" following layoffs, report claims

It has been reported that UK-based studio Ballistic Moon, which developed the PS5 and PC remake of Until Dawn, quietly went through another round of layoffs last year, leaving only a handful of non-technical employees remaining.
The details:
In September 2024, just a month before the release of the Until Dawn remake, Ballistic Moon confirmed that it had laid off an undisclosed number of employees in order to "secure the studio's future". It was later revealed that the cuts affected approximately 40 employees.
As reported by Insider Gaming, sources claimed that this was only one of two rounds of layoffs at the developer last year, with additional cuts made quietly in December. According to the sources, roughly 20 developers remained at the studio after the initial cuts to provide post-launch support for Until Dawn, but now, only the studio's founders and a small handful of employees remain "at most."
It is claimed that Ballistic Moon no longer employs any marketing, PR, or development staff, indicating that there will be no future patches for Until Dawn and that the studio is "effectively closed."
According to the report, the layoffs occurred after the studio's founders failed to secure funding for future projects. Sony was said to be in talks to potentially fund additional Until Dawn updates and possibly a new game, but no agreement was ever finalized.
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