Lost Boys Interactive is set to reduce its workforce by 139 employees

Update, September 10, 2024: According to a recent notice from the Wisconsin Department of Workforce Development, Lost Boys Interactive has dismissed 139 employees. All affected staff have been informed, spanning across 28 different states within the US. These employees will receive standard pay corresponding to two months after their termination.

Initial report, September 9, 2024: Lost Boys Interactive, located in Wisconsin and part of the Embracer Group, has announced layoffs, though the exact number was initially undisclosed. The firm released a statement on LinkedIn indicating that the job cuts affect personnel "across several states" but did not specify further.

Describing the situation, the company stated, "As a co-development partner studio, Lost Boys is directly influenced by the projects and priorities of our development clients. Adjusting to changing market conditions in the gaming industry necessitated a review of our operations to better suit the evolving needs of our business and partners."

CEO Shaun Nivens emphasized that the layoffs were a last resort after evaluating "all other options" and the company is committed to assisting the affected employees. The statement continued, assuring that current projects remain untouched, with teams intact, and expressed a pursuit of new development opportunities.

Known for contributing to Tiny Tina's Wonderlands, Lost Boys Interactive was purchased by Gearbox in 2022. Gearbox, itself, became part of Embracer in a transaction worth $1.3 billion the previous year.

Earlier this year, some staff from the studio were also let go, as part of wider layoffs within the Embracer Group.