Thought Pennies cuts headcount as project loses funding

Thought Pennies has let go a number of staff after its publisher “changed strategic direction.”

In a statement posted to LinkedIn, chief creator officer Daniel Erickson said that despite “never miss[ing] a milestone” and “great feedback,” the developer had no choice but to cut its headcount given a project is “now without funding.”

“Over the last three years at Thought Pennies we built something amazing,” Erickson said (thanks, GameDeveloper). “We never missed a milestone, our feedback was great, our partnerships strong.

“We went from two people and a PowerPoint to a team of almost sixty heavily-vetted, incredibly independent, passionate professionals,” the CCO continued. “Our publisher changed strategic direction, however, and our previous project is now without funding. Last week, we had to shrink the size of the studio.”

Erickson added that “every person you see with Thought Pennies next to their name and their brand-new ‘open to work’ tag was hand-picked and performed the improbable with our team,” and whilst Thought Pennies would “love to grab each one of these people back when our next project arrives,” “first and foremost we want them all to be in the perfect place for their lives and aspirations.”

It’s unclear how many people have been impacted by the cuts, but its LinkedIn profile states the company employs 11-50 people.

Thought Pennies’ layoffs are just the latest in a long line of industry job cuts over the last eighteen months, mostly recently at Madrid-based Tequila Works.