Former Phillies pitcher Curt Schilling's troubled gaming company 38 Studios has laid off 400 employees today and announced it is shutting down their Rhode Island office and subsidiary Big Huge Games, based out of Maryland according to reports by The Verge gaming website.â†µ
According to WPRI all employees received the following email:â†µ
The Company is experiencing an economic downturn. To avoid further losses and possibility of retrenchment, the Company has decided that a companywide lay off is absolutely necessary.â†µ
These layoffs are non-voluntary and non-disciplinary.
This is your official notice of lay off, effective today, Thursday, May 24th, 2012.
Schilling's company showed initial signs of trouble earlier this month when it defaulted on a $1.125 million payment to the state of Rhode Island. Layoffs have been confirmed by Rhode Island governor Lincoln Chaffee. Schilling's gaming company had initially moved its offices to Providence after receiving a $75 million dollar inducement payment, essentially making it a tax-payer backed entity.â†µ
A live feed of the press conference can be heard here.â†µ