They did confirm however that Broken Age, Massive Chalice and the remastering of Grim Fandango "were unaffected." Massive Chalice has recently hit Early Access and is a strategy RPG.
"One of our unannounced projects was unexpectedly cancelled by its publisher, forcing us to reduce our staff by 12 people. Our remaining projects--Broken Age, Massive Chalice, and Grim Fandango Remastered, were unaffected," said studio head Tim Schafer.
Grim Fandango Remastered is expected to be shown off this December at thein Las Vegas. Who was the publisher that pulled out? What was the project? It's a mystery of life.