Sony Interactive Entertainment (SIE) will be closing Firewalk Studios after 'Concord's disastrous launch.
After the hero-shooter was only able to attract a measly 25,000 players upon its release last month, publisher Sony took the title offline and issued full refunds to all customers, and now the company has announced it will be shuttering Firewalk and will be "permanently sunsetting the game".
In an update to its website, Sony wrote: "Certain aspects of 'Concord' were exceptional, but others did not land with enough players, and as a result we took the game offline. We have spent considerable time these past few months exploring all our options.
"After much thought, we have determined the best path forward is to permanently sunset the game and close the studio. I want to thank all of Firewalk for their craftsmanship, creative spirit and dedication.
"The PvP first-person -shooter genre is a competitive space that’s continuously evolving, and unfortunately, we did not hit our targets with this title. We will take the lessons learned from 'Concord' and continue to advance our live service capabilities to deliver future growth in this area."
As well as 'Concord' – which was rumoured to have cost $300 million - PlayStation co-CEO Hermen Hulst told employees the company would be shuttering the mobile developer Neon Koi in order to ensure the business was "meeting near and long-term business priorities".
In an internal staff memo obtained by GamesIndustry.biz, Hulst said: "I know none of this is easy news to hear, particularly with colleagues and friends departing SIE.
"Both decisions were given serious thought, and ultimately, we feel they are the right ones to strengthen the organization. Neon Koi and Firewalk were home to many talented individuals, and we will work to find placement for some of those impacted within our global community of studios where possible."