As part of SCi's plan to restructure they're setting their employee count to 800 and the board has decided to axe 14 projects, citing they wouldn't get an adequate return on their investment or achieve a sufficient quality.
Instead they'll focus on their core franchises, Tomb Raider, Hitman, Championship Manager and Deus Ex.
"Following our business review over the last six weeks, we are initiating a clear action plan based on three fundamental strands of activity: a radical change in our structure to a studio-led business, a top to bottom programme of product improvement and efficiency and a considerable cost reduction plan," commented Phil Rogers, CEO of SCi.
"To get SCi on track we have to act rapidly and effect change quickly. We must allow the world-class people that we have within the Group to focus on strong, profitable titles which will create the value our shareholders deserve."
"I am confident our staff share this vision and excitement for the future, and determination to build a working environment where our innovation and creativity can be commercially realised."
Production services which include both Quality Assurance and Localization will move from London to Montreal, the company will be able to take advantage of lower operating costs. All this comes at a one off cost of £7 million while it would reduce overall costs by an estimated £14 million annually by this June.
"Our quality has slipped below acceptable standards and, through disappointing game development and working within an ineffective operating structure, we are failing to realise the commercial return our creative ability and our shareholders demand," says SCi.
With the recent noise from EA over Take-Two, SCi weren't shy about opening up the idea to be acquired themselves if the right offer came along, but did say they wouldn't be out seeking any themselves.
"Our infrastructure is too big and expensive for the scale of the business."
Tomb Raider has seen a major facelift with recent titles, and a significant asset reduction in the chest area, bringing Lady Croft back into the good graces of the gaming community with stunning visuals and action packed adventures.