UK developer Monumental is braced for a series of staff cuts at the company, the group has confirmed to Develop.
The firm’s CEO Rik Alexander said the redundancies were regrettable, revealing that the firm has been hit by an “unexpected” cancellation of an unannounced project.
Yesterday directors announced to staff that redundancies were inevitable, with an unknown publisher backing away from a deal thought to have been secure.
The number of staff affected is unknown, though a tip-off which suggested two-thirds of staff will be axed was branded as “nonsense” by an insider.
As well as its base in Nottingham, Monumental has a satellite studio based out in Pune, India.
“Due to an unexpected project cancellation Monumental has been forced to restructure its business which has resulted in a number of job losses,” read a company statement.
“The company is saddened by the cuts and will provide the necessary support to those affected through the change.”
The news continues Monumental’s rollercoaster year, which in April saw the firm close its Manchester-based offices, while in September was named as the sixth-fastest growing technology company in the UK.
The company made £5.1 million last year, according to data in a Sunday Times survey, though it remained out of profit.
Much of the company’s future is pinned on its new 3D MMO engine, Prime, which Develop understands is gathering strong interest from a number of publishers.
This month the firm will head to Game Connection in Lyon, France, to publicly unveil Prime to a host of potential partners.
Rik Alexander said Monumental was taking the “necessary steps to secure the business and its plans for the future.”
He added: “Monumental will continue to develop and support Prime – it’s World leading 3D MMO Engine and to develop games in the social gaming space as well as other more traditional work for hire projects.”