VR games specialist nDreams has announced plans to close two studios with the loss of up to 78 jobs.
Hampshire-based nDreams has been described as the world鈥檚 biggest developer and publisher of VR games.
The company was founded in 2006 by Patrick and Tamsin O鈥橪uanaigh, before pivoting in 2013 to focus exclusively on VR games.
In 2023, nDreams was acquired by Swedish games giant Aonic in a 拢90m ($110m) deal.
In 2024, the games developer announced a strategic review resulting in up to 17.5 per cent of the company鈥檚 workforce being made redundant.
Today, the company announced the closure of two of its studios – Near Light and Compass – with 78 roles at risk of redundancy.
A spokesman said: 鈥淥ur team was today informed of proposals to restructure nDreams, including a significant reduction in overall staffing levels.
鈥淭hese changes would impact all levels and multiple teams, including senior leadership.
鈥淪ince 2024, our staff have been divided across three internal studios: Elevation, Near Light, and Compass.
鈥淎t the core of restructured business will be Elevation, which currently has around 120 staff engaged on unannounced projects.
鈥渘Dreams will also retain a lean group dedicated to XR R&D.
鈥淭ogether, we will remain focused on delivering world-class VT and XR games.
鈥淩egrettably, the proposals include the closure of the Near Light and Compass studios, and a reduction in our facilities, talent, shared technology and executive team, with 78 roles at risk of redundancy.
鈥淒espite every effort to make our existing structure a success, and avert this outcome, the VR games market remains challenging, making further changes necessary to ensure a commercially viable and sustainable future.
鈥淲e committed to exploring every option to retain talent and will now enter a collective consultation process with the people impacted by these proposals.
鈥淲e recognise that this will be stressful and challenging for everyone affected and will be offering support throughout the process.鈥�