Red 5 Studios Layoffs, MMO on Hold
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According to sources who wished to remain anonymous, Red 5 is now down to about 30 employees. That's down from the 65 profiled on its official web site as part of "The Tribe" and approximately 100 as of December 2008, before the developer had shuttered its Shanghai office.
Red 5 Studios was said by sources to have been nearing closure, but was bailed out by an unnamed buyer last week, with employees let go following the buyout.
One source said that Red 5's massively multiplayer online first-person shooter project, a futuristic military game built on Offset Software's video game engine, has been put on hold following the buyout and layoffs. Red 5's development focus is said to have shifted to another project, one "aimed at the Chinese market."
