United Kingdom, Feb. 12 -- The next 'Crysis' game is "on hold" as developer Crytek has been hit by layoffs.

The studio - which has helmed the first-person-shooter series since its 2007 debut - has announced it will be letting go of 15 per cent of its 400 employees as a result of the " unfavourable market dynamic" in the gaming industry.

In a statement posted to X (formally Twitter), the company wrote: "Like so many of our peers, we aren't immune to the complex, unfavourable 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 per cent of our around 400 employees. The layoffs affect development teams and shared services. This has not been an easy de...