Other Embracer Group shutting down Studio Onoma three weeks after the studio's rebranding.

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Read from CBR:

Studio Onoma, formerly known as Square Enix Montreal, is shutting down after its rebranding on Oct. 10. In 2011, Square Enix founded the studio, which decided to focus on developing free-to-play games two years later.

On Nov. 1, a representative from Embracer Group confirmed Onoma's shut-down and the studio's termination would impact over 200 employees. Allegedly, some of the former studio's employees will move to Eidos-Montréal, also owned by Embracer. Some attribute Embracer's decision to its plan of saving the company money in the long run. According to an anonymous representative from Eidos-Montréal, the studio has "reduced the scope of one unannounced project and will cancel another Stranger Things-inspired kids on bikes game."
 
That's rough. Imagine being laid off from this. That would not be a good place to be, but of course, the money probably wasn't there as they predict in the first place.
 
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