According to a report from Polygon, the financially struggling developer has laid off their entire staff.
The financial woes for the developer first started when they failed to make a payment of $1.125 million to the state of Rhode Island.
We reported yesterday that CEO Jen MacLean and senior VP or product development John Blakely were among those laid off.
As of March 15, the studio employed 379 full-time employees. The studio also owned Baltimore, MD-based Big Huge Games. At the time of layoffs, the studio was working on a massively multiplayer online game.
After missing the $1.125 million loan payment to the Rhode Island Economic Development Corporation on May 1. When the studio was unable to pay their employees the state said it would not give any further financial assistance to the ailing studio.
Following this debacle, the director of Economic Development Corporation for Rhode Island resigned.
38 Studios was founded in 2006 in Massachusetts as Green Monster Games. 38 Studios was persuaded to relocate to Rhode Island in 2010 by a $75 million loan guarantee from the state. The state’s argument was that the studio would bring hundreds of jobs and millions in tax revenue.
(Via Polygon)
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