Crytek Layoffs; Crysis 4 Crisis [Updated]

A post on X from Crytek announces layoffs at the German developer, saying it cut around approximately 15% of its workforce, or about 60 jobs. The announcement says development of the next Crysis game was put on hold in Q3 of last year to focus resources on Hunt: Showdown 1896. That first-person shooter is reportedly still growing, but the company "determined that layoffs are inevitable to move forward." The presumed Crysis 4 remains on hold, and there's no suggestion that this will change any time soon:
Like so many of our peers, we aren't immune to the complex, unfavorable market dynamics that have hit our industry these past several years. It pains us greatly to share today that we must lay off an estimated 15% of our around 400 employees. The layoffs affect development teams and shared services. This has not been an easy decision to make, as we deeply appreciate the hard work of our talented teams. After putting the development of the next Crysis game on hold in 03 2024, we have been trying to shift developers over to Hunt: Showdown 1896.

While Hunt: Showdown 1896 is still growing, Crytek cannot continue as before and remain financially sustainable. Even after ongoing efforts to reduce costs and cut operating expenses, we have determined that layoffs are inevitable to move forward. Crytek will offer affected employees severance packages and career assistance services.
Update: This report originally said 400 jobs were lost, which was the company's headcount before the cuts. Apologies for the error.