Volition Games, Developers of Saints Row, Shutting Down Effective Immediately

Volition Games has announced that their parent company, Embracer Group, has shut down the studio effective immediately.
The studio, best known for developing the Saints Row and Red Faction series, announced their closure via a statement released on the company’s LinkedIn page this morning.
“This past June, Embracer Group announced a restructuring program to strengthen Embracer and maintain its position as a leader in the video game industry. As part of that program, they evaluated strategic and operational goals and made the difficult decision to close Volition effective immediately,” the statement reads.
Based on this statement, Volition is the second victim of juggernaut conglomerate Embracer Group’s planned cost-cutting restructuring measures, including layoffs, studio closures, and cancellations, announced in June in response to a major deal falling through with the Saudi government-funded Savvy Games Group. Embracer had previously shut down new studio Campfire Cabal earlier this month before they had even managed to release their first game, making Volition the first well-established studio confirmed to be impacted by closures.