Imagendary Studios has "deeply restructured" with its future in significant question, according to a now-former employee posting on LinkedIn last week.
"This dream is done, Imagendary Studios has deeply restructured, and most of us were laid off," artist David Luong posted on LinkedIn. "I remained on as one of the last skeleton crew members to tidy some things up."
An inquiry to Imagendary parent company FunPlus was not returned as of the time of publication.
Beyond the LinkedIn post, a GlassDoor review of the company from last month also mentioned widespread layoffs. A search of LinkedIn reveals that numerous employees' parted ways with the company in June or July.
Among those departures were head of studio Ryan Pollreisz, audio director Jason Hayes, principal effects artist Matt Cordner, and design director Michael Brinker, all of whom had been high-profile appointments the company announced in 2022.
Imagendary was founded by former Blizzard artist Wei Wang in 2020, and was acquired by FunPlus in April of 2021.
The studio never announced its first project, but it was intended "to bring AAA cross-platform experiences to gamers worldwide" and was hiring developers for a third-person action-adventure game.
The studio was also advertised by a blockchain-based MMO called Age of Dino as "backing" the project.