Embracer-owned Eidos Montreal is laying off 97 game developers and support staff, the company announced today on Twitter.

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— Eidos-Montréal (@EidosMontreal) January 29, 2024

In addition to the layoffs hitting the Canadian studio, an unannounced new entry to the Deus Ex series was also canceled, as reported by Bloomberg’s Jason Schreier.

According to Bloomberg’s report, the now-canceled new Deux Ex game has apparently been in development for about two years.

“The global economic context, the challenges of our industry and the comprehensive restructuring announced by Embracer have finally impacted our studio,” wrote Eidos Montreal in its official statement on Twitter.

The Swedish gaming giant Embracer Group had an aggressive acquisition spree and acquired Eidos Montreal, the studio behind the Deus Ex franchise, Thief series and Marvel’s Guardians of the Galaxy, back in May 2022 alongside Tomb Raider studio Crystal Dynamics.

In the same year, the company announced that it would undergo a restructuring that saw many studios under its umbrella shutting doors such as Saints Row developer Volition, Campfire Cabal and Free Radical Design.

Many companies under Embracer Group were also hit with mass layoffs, impacting studios such as Crystal Dynamics, Beamdog, Fishlabs, Zen Studios and most recently, Black Forest Games, which reportedly laid off 50% of its workforce.

This news continues the wave of disheartening layoffs in the industry, with a devastating number of employees already being affected in the first month of 2024 such as last week’s Microsoft layoffs which saw 1,900 employees losing their jobs.