11 bit studios cancels Project 8 and lays off employees as gaming market shifts

11 bit studios has canceled its unannounced game, Project 8, which was intended to be its first console-focused title. The decision follows challenges during development and changes in the gaming market since the project began in 2018. The studio laid off around 15 employees from the Project 8 team, while over half of the 37 staff members will be reassigned to other projects. The layoffs are part of a broader trend in the gaming industry, with many companies announcing job cuts recently. The final impact of the layoffs and project cancellation will be detailed in 11 bit's full-year report for 2024. The gaming industry continues to face significant workforce reductions as it adapts to shifting market conditions.