505 Games parent company Digital Bros is cutting its global workforce by 30 per cent.

That's according to an organisational review published by the firm, in which it said it would be
laying off just under a third of its staff around the world. Digital Bros says that the games business has evolved since the COVID-19 coronavirus pandemic, with consumers turning to established IP rather than taking a risk on new properties.

"In order to prioritize high-quality and long-standing successful titles, Digital Bros has reconsidered the number of projects under development and as such, will review the organization structure accordingly to align with the evolving competitive environment in the medium to long-term to ensure maximum operational efficiency," Digital Bros wrote.

"The restructuring program is expected to represent a reduction of approximately 30 per cent of the global workforce, with the predominant portion concentrated within the studios."