Iron Galaxy Studios has, over the years, contributed to series such as Crash Bandicoot, Spyro, Uncharted, and Fallout while also developing original titles of its own like Extinction and Rumbleverse. But even working on high profile series like those listed hasn't saved it previouslyhaving to make layoffs to ensure its survival, and things aren't looking much brighter in 2026.

At least that's what the veteran company said on LinkedIn this past weekend (hat tip to GamesIndustry.biz), citing "current market conditions" as the reason behind these new cuts. The company explains everyone has been waiting for thing to "get back to normal" for a few years now, but "players consume games in new ways" and "publishers have different criteria for investing in the development of games." According to the developer, this hasn't been limited to its operations: "this new normal has impacted all our partners."

"A number of teammates and friends are losing their jobs as we adjust to a new company structure. We are terribly sorry to lose them as we take steps to adapt to the climate of the video game industry. It's time for us to evolve again," the post added.

The number of cuts made in this new wave of layoffs is unknown at the moment of writing, but 66 positions were lost in early 2025. Last August, Adam Boyes stepped down as Iron Galaxy's co-CEO after an eight-year run, with co-CEO Chelsea Blasko assuming the full leadership role.

Last year, the developer released Tony Hawk's Pro Skater 3+4 - which Eurogamer's review called "a properly glorious collection of two classic games" - and supported The Last of Us Part II's PC port. Earlier this year, it was linked to a potential Fallout: New Vegas remaster, but our hopes were quickly shot down.