AdVenture Capitalist developer Hyper Hippo has laid off 27% of its workforce, the company has confirmed to PocketGamer.biz.
Redundancies at the Canada studio this month impacted various departments, including production and marketing. A company statement said staff affected had received severance pay, extended health benefits and access to support resources.
It called the move to lay off staff “a necessary restructuring amidst the evolving mobile games industry”. The company said it would now turn its focus to core projects.
“In this rapidly changing industry, difficult decisions like this are essential to remain competitive, innovative, and adaptable,” said Hyper Hippo CEO Sam Fisher.
“It is heartbreaking to part ways with valued team members. This step was a strategic response to external challenges, not a reflection of our team’s talent and dedication.”
Hyper Hippo has shared the details of 13 staff affected by the company’s layoffs on LinkedIn as it looks to help staff find new jobs in the industry.
Based in British Columbia, Canada, Hyper Hippo was founded in 2012 and has worked on a number of titles, including AdVenture Capitalist, AdVenture Communist and Dungeon Dwarves. The studio's games have generated more than 80 million installs worldwide to date.
It becomes the latest studio to lay off staff amid a challenging macroeconomic climate, a post-covid lockdown slump and privacy changes upending the mobile market.
Other companies that have recently laid off staff including Bungie, Epic Games, Telltale, Team17, Embracer Group and many more. Ubisoft, meanwhile, has closed its London studio behind the Hungry Shark franchise.