Free Radical Design has shut down.

The studio, which had produced the 'TimeSplitters' franchise, was set to close by the end of the year after parent company Embracer Group decided to undertake an internal restructuring program that saw more than 50 employees lose their jobs.

Taking to X (formally Twitter) senior tech artist at Free Radical Design Adam Kiraly admitted the studio's closure hadn’t "sunk in" yet, and was sad to part ways with the company.

He wrote: "The last day at FRD was very different from what I imagined. I don't think it sunk in properly just yet, but handed my keys in and left the building the last time. It's Time to Split".

Senior artist Mark Normington agreed, and wished his colleagues the best for the future.

He wrote: "It's been a great two and a quarter years at Free Radical Design. Sad to see us go. Onwards and upwards!"

Embracer Group announced Free Radical Design would be closing before the end of the year in an attempt to recoup losses of a $2 billion deal that fell through in May.

In a statement, Embracer CEO Lars Wingefors confirmed the fate of Free Radical Design and thanked the employees for their commitment.

He said: "As we move through the consultation process and face the potential closure of Free Radical Design on 11 December 2023.

“I want to express my gratitude for your commitment and the remarkable work you’ve done and still keep doing… This is a challenging time for all of us but especially for you, and our focus is to support you as much as we can during this transition.”

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