Virtuos, one of the biggest game developers in the world and the team that was behind the positively received The Elder Scrolls IV: Oblivion Remastered, is undergoing a “restructure” that will lead to layoffs. A spokesperson for the company told Eurogamer that around 7% of the company’s global staff are facing layoffs. The cuts are being made “primarily in teams facing lower occupancy and slower demand due to structural shifts in the industry.”

About 200 people in Asia are impacted, along with 70 in Europe. Fewer than 10 people at Virtuos’ French office, which worked on Oblivion Remastered, were impacted, the company said.

“We are grateful for the contributions of those impacted. We are providing separation packages, career transition assistance, and opportunities for redeployment across our global network where possible,” the company said. “The company’s immediate focus is on managing this transition with care, transparency, and respect.

Virtuos is also working on Metal Gear Solid Delta: Snake Eater, along with the ongoing updates to Cyberpunk 2077, among many other ongoing projects. Through itself and its subsidiaries, the Singapore-based Virtuos employs more than 4,000 people globally, meaning the cuts amount to around 280 people.

“We will continue to invest in global delivery, technical excellence, and creative collaboration, ensuring that Virtuos remains the partner of choice for the world’s leading game creators,” the spokesperson added. “We thank our teams, partners, and peers for their continued support as Virtuos adapts to lead the future of game development.”

This is just the latest round of layoffs affecting a major game developer, as Xbox just cut numerous jobs, cancelled games, and closed a developer as part of its latest string of cuts.

A recent game developer survey quoted various developers saying investors with mismanaged expectations are partly to blame for the video game industry’s struggles in recent years.

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