Thought Pennies reduces workforce after project funding withdrawal

The developer, Thought Pennies, has been compelled to reduce its workforce after its publishing partner opted for a new strategic path.

Daniel Erickson, the chief creator officer, shared on LinkedIn that despite consistently meeting targets and receiving positive evaluations, the team faced no choice but to downsize due to the loss of funding for a project.

"In the past three years at Thought Pennies, we've achieved remarkable things," Erickson stated (source: GameDeveloper). "We were always on schedule, received excellent feedback, and had robust partnerships."

He elaborated, saying, "From just two members and a PowerPoint presentation, we grew to a nearly sixty-member team, comprised of highly skilled and passionate individuals. However, since our publisher altered its strategy, the previous project lost its financial backing. Consequently, last week, we had to reduce our team size."

Erickson also mentioned that every individual with a Thought Pennies association and a new 'open to work' status was carefully chosen and achieved remarkable outcomes alongside the team. Although Thought Pennies intends to rehire these individuals when future projects emerge, Erickson emphasized the importance of team members finding roles that align with their personal and professional goals.

The precise number of employees affected remains unspecified, but the company’s LinkedIn page indicates a workforce ranging from 11 to 50 people.

The recent downsizing at Thought Pennies is part of a broader trend of industry layoffs, which have been prevalent over the past year and a half, including recent cuts at the Tequila Works in Madrid.