Free Radical Design, Developer of TimeSplitters, Faces Potential Closure as Embracer Continues Restructuring Efforts

COO resigns amidst turbulence as multiple employees of TimeSplitters studio reportedly seeking new employment; possible third-party acquisition could prevent closure.

Free Radical Design, the developer of TimeSplitters, is potentially facing shutdown due to restructuring efforts by Embracer Group, including job cuts at other studios like Crystal Dynamics, Beamdog, Zen Studios, and Campfire Cabal.
The potential closure follows the resignation of Embracer's COO, Egil Strunke, and reports of multiple Free Radical Design employees seeking new employment, with at least 15 employees saying they're looking for new jobs within the last 24 hours.
Only two years ago, the original founders, Steve Ellis and David Doak, reformed Free Radical Design to work on a new TimeSplitters game after Embracer-owned publisher Deep Silver announced its revival. The future of the game is now unclear.
The studio's potential closure is not finalised, as it could be acquired by a third party or continue operation if Embracer changes its mind. However, UK law mandates a consultation period of at least 30 days before any layoffs, which is likely how employees discovered the possible shutdown.
The current restructuring program by Embracer, including potential studio closures and layoffs, was initiated in June to reduce the company's debt following the collapse of a transaction projected to be worth at least $2 billion.