Secret World Dev Lays Off 50% of Employees
Bad news for the employees of The Secret World developer Funcom. It has been announced that the company has laid off approximately 50% of their staff in what has been described as “cost-adjustment initiatives.” That’s corporatespeak for “we aren’t bringing in enough money”.
That’s because The Secret World, though successful, is performing very much below expectations. Of course, this isn’t surprising, particularly given the company’s recent stock plunge. The Secret World may indeed be good – our own CJ Miozzi gave it an 85 – but releasing a subscriber-based MMO in 2012 was probably a mistake. The dwindling state of the MMORPG world was already becoming an accepted fact months before TSW’s July release. While World of Warcraft continues to make bajillions, nearly every other MMO can barely compete, those that still exist increasingly converting to a free to play model, which is no where near as potentially lucrative as a successful subscription service.