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38 Studios' Future Looks Bleak, Two Top Executives Leave Company

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The financial situation at 38 Studios is nothing short of grim, and unfortunately the rest of the news coming out of the company doesn't make the overall picture any brighter either. Earlier today, we learned that CEO Jen MacLean and recently hired VP of product development John Blakely have left the company, and I suspect that some of the 300 people who applied during Turbine's job fair have intentions of leaving Curt Schilling's studio as well. And I can't really blame them, given the revelation that they've gone unpaid since May 1st and their health insurance ends tomorrow:

38 Studios employees have not been paid since May 1 and their health care will end Thursday at midnight, a source with knowledge of the situation tells Joystiq. Employees are normally paid on the first and 15th of each month.

When asked if the studio would be shutting down this week, the source could only say, "Unknown at this time. Outlook is not good."

Even if they somehow secure some new financing, it's going to be very difficult to keep Project Copernicus moving along if they lose some of the project's top talent.

38 Studios' Future Looks Bleak, Two Top Executives Leave Company

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