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IO Interactive has confirmed its previously Xbox-funded game, currently codenamed Project Fantasy, won't be cancelled following the cuts both Microsoft made and the developer itself was forced into.
A new social media statement from the studio said it's gained full control and ownership of the project and the IP rights, and to that end, it'll "continue to develop and fund it independently amongst our other projects".
However, as a result of the industry cuts, the studio has been forced to close its Istanbul branch and start a process "to part ways with colleagues who have been a meaningful part of what makes IOI what it is". IO Interactive then calls on the industry to support the employees it's having to let go by alerting it to any hiring opportunities.
It then concluded: "These are hard, but necessary decisions, in order to retain the long-term future of IO Interactive as one of the very few fully independent AAA developer and publisher, as well as to give Project Fantasy the best possible foundation to succeed under our own passion and direction. Project Fantasy is a game, a world, and an IP that we are wholly committed to, and we cannot wait to share the love with you."