ArenaNet, the studio behind the Guild Wars franchise, will layoff employees following the cancellation of unannounced projects, though game services for Guild Wars and Guild Wars 2 will allegedly not be affected.

"We can confirm that due to the cancellation of unannounced projects, ArenaNet will make staff reductions. This is part of a larger organizational restructuring within NCSOFT in the west, but the Guild Wars and Guild Wars 2 game services will not be affected, nor is any upcoming game content canceled."

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IGN reached out to ArenaNet for comment, and the company confirmed the layoffs, stating it’s a part of a larger organizational restructuring within NCSOFT, ArenaNet’s parent company. ArenaNet send IGN the following statement:IGN has also reached out to NCSOFT for comment.First reported by Kotaku , word of these layoffs recently began circulating amongst employees, and it’s still unclear how many will be let go, though it is rumored to be a significant number.Songyee Yoon, CEO of NCSOFT West, allegedly e-mailed employees this afternoon, saying that these actions are a result of its live game business revenue declining as its franchises age, and development delays have further drained its revenue while western operating costs increase."Where we are is not sustainable, and is not going to set us up for future success,” Yoon wrote. “The restructuring, cost-cutting, and strategic realignments are all being done to secure our tomorrow and to provide the foundation that will allow us to grow and acquire."ArenaNet allegedly addressed employees in two meetings later in the day, and while much is still up in the air, ArenaNet will reportedly be giving out two months severance to those losing their jobs, and bonus time based on tenure with the company.ArenaNet’s most recent release was the expansion Guild Wars 2: Path of Fire , which hit stores in September 2017. In 2014, WildStar developer and NCSOFT subsidiary Carbine Studios was hit with layoffs , ultimately going defunct in 2018.Other industry layoffs have recently occurred, including layoffs at Activision Blizzard , despite the company reporting record revenue. Late last year, Telltale Games was shuttered , resulting in the loss of several jobs.

Colin Stevens is a news writer for IGN. Follow him on Twitter