Thought Pennies cuts headcount as project loses funding

Thought Pennies has let go a lot of employees after its writer “modified strategic path.”

In a press release posted to LinkedIn, chief creator officer Daniel Erickson mentioned that regardless of “by no means miss[ing] a milestone” and “nice suggestions,” the developer had no selection however to chop its headcount given a venture is “now with out funding.”

“During the last three years at Thought Pennies we constructed one thing wonderful,” Erickson mentioned (thanks, GameDeveloper). “We by no means missed a milestone, our suggestions was nice, our partnerships robust.

“We went from two individuals and a PowerPoint to a group of virtually sixty heavily-vetted, extremely impartial, passionate professionals,” the CCO continued. “Our writer modified strategic path, nevertheless, and our earlier venture is now with out funding. Final week, we needed to shrink the dimensions of the studio.”

Erickson added that “each individual you see with Thought Pennies subsequent to their identify and their brand-new ‘open to work’ tag was hand-picked and carried out the unbelievable with our group,” and while Thought Pennies would “like to seize every one in all these individuals again when our subsequent venture arrives,” “at the start we wish all of them to be within the excellent place for his or her lives and aspirations.”

It is unclear how many individuals have been impacted by the cuts, however its LinkedIn profile states the corporate employs 11-50 individuals.

Thought Pennies’ layoffs are simply the newest in a protracted line of business job cuts during the last eighteen months, principally lately at Madrid-based Tequila Works.