After news surfaced that Crytek was on the verge of bankruptcy, the company announced today that it is shutting down 5 of its 7 studios.
In a press release, the company specified that it offices in Budapest; Istanbul; Seoul; Sofia, Bulgaria and Shanghai will be closed, leaving only Frankfurt and Kiev studios open.
Crytek hopes that those changes are meant to help the company refocus on its core strengths as the two remaining studios will focus only on the company's strategic CryEngine and premium intellectual properties.
"These changes are part of the essential steps we are taking to ensure Crytek is a healthy and sustainable business moving forward that can continue to attract and nurture our industry’s top talent," said Co-Founder and Managing Director, Avni Yerli.
Crytek claims that the reasons behind the slice off have been communicated internally, but all evidences indicate otherwise. An anonymous Crytek employees who burst the bubble earlier this month complained that management never warned them before salary delays and never explained when the problem would be resolved or how. "Upper management refuses to speak to any of us and our managers have no answers. We have never been apologized to, and they refuse to talk to us," he said.