Phoenix Labs (Dauntless and Fae Farm developer) has laid off over 100 people and all in-development games have been cancelled

[John Elden Ring]

Journalists are reporting that the Studio has been impacted by layoffs:

Major layoffs at Fae Farm, Dauntless dev Phoenix Labs today. Two sources said over 100 people have been impacted. On LinkedIn, a former worker said all in development games have been cancelled, including one about to be announced. Devastating news — so sorry to those impacted.