Crytek Closing Five Studios After Financial Troubles

After the rumor of Crytek not paying their Bulgarian employees, the rumor mill started to bubble over. Earlier today, it was revealed that after a year of financial problems, Crytek will be closing its studios in Hungary, Bulgaria, South Korea, China and Turkey.

Crytek claims that they plan to "Refocus on its core strengths of developing innovative games and game-development technology." After the closures, only two studios will remain. Crytek has also said they have "Put plans into action to secure jobs and to ensure a smooth transition and stable future" for those whose jobs will be displaced.

Crytek is known for games such as Crysis and Ryse. Despite the news of delayed/missing paychecks, employees have said they were finally paid for October, but were also greeted with news of the closures. There is also rumors of them selling their free-to-play game Warface to another developer, but it has yet to be confirmed.

Crytek Managing Director Avni Yerli expressed his thanks to every staff member of the Crytek team and explained how Crytek will be moving forward.

"Our focus now lies entirely on the core strengths that have always defined Crytek – world-class developers, state-of-the-art technology and innovative game development, and we believe that going through this challenging process will make us a more agile, viable, and attractive studio, primed for future success.”

This most likely means the end of any sort of development on the alleged Ryse sequel as well.