September 18, 2018 9:41 pm
Updated: September 19, 2018 1:55 pm

Capcom Vancouver announces it’s suspending operations, shutting down studio

WATCH: About 150 B.C. workers will be left without a job as Japanese gaming giant Capcom announces it will close its creative studio in Canada. Tyler Orton from BIV has the latest.

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Sad news for local gamers — Capcom Game Studio Vancouver announced on Tuesday that it’s suspending operations, closing its doors and laying off its 158 employees.

A Capcom spokesperson said it appreciates the hard work and contributions of all the staff in creating “unforgettable gameplay experiences for the Dead Rising series and Puzzle Fighter.”

It adds those employees will be receiving severance packages.

In a statement, Capcom Vancouver said it expects to record losses from the termination of development projects in its consolidated financial results for the six months of the fiscal year ending March 31, 2019.

It expects to lose approximately 4.5-billion yen under the cost of sales in the next six months — that’s about C$52 million.

Capcom said it has been focused on increasing the efficiency and growth of its game development operations and to support its objective, new R&D facilities and annual hiring have been underway at the Osaka headquarters.

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It said Capcom has decided to cancel the development projects at the Vancouver studio and will concentrate development of major titles in Japan.

© 2018 Global News, a division of Corus Entertainment Inc.

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