Back on June 30, IO Interactive announced that it had lost its financial partner for its online RPG, tentatively titled Project Fantasy. That partner was none other than Xbox, which had decided to withdraw from the project.

However, the studio known for the Hitman series and 007 First Light hasn’t shelved Project Fantasy, which will be released one day. The game has now been fully taken over by the developer, which will fund it independently. Unfortunately, this decision has consequences for the entire company…

IO Interactive will be closing its Istanbul-based studio. Layoffs will also take place within the teams. The goal is to find a new balance to ensure IO’s long-term future. The staff will focus exclusively on their "internal core titles instead of external projects and potential mobile game derivatives."