More details are set to be shared in the coming weeks.
The report has also revealed fears around AI, and a move towards self-publishing for games.
"External market pressures" have reportedly inspired a complete studio overhaul.
The news follows the launch of Life is Strange: Double Exposure.
Reflector Entertainment said the reduction will help it refocus on new game development.
New Naruto and One Piece games have reportedly been cancelled or paused at the company.
Riot co-founder Marc Merill stated it's not about saving money, but ensuring the "right expertise" is secured.
Xbox and Activision Blizzard employees are believed to be most impacted.
The Until Dawn remake isn't scheduled to launch until October 2024.
Intel aims to deliver USD $10 billion in cost-saving by 2025, and it's taking extreme measures to do it.
