Telltale have issued a statement via Twitter:
Multiple sources, including outlets and staff, have revealed that the developer Telltale Games has been hit by major layoffs.
The developer is known for their work on popular episodic adventure titles like The Walking Dead, Tales from the Borderlands, The Wolf Among Us, Batman, Game of Thrones, and many more over the years. The layoffs will see the size of the company go from around 250 members of staff to a small team of only 25 people to finish the currently releasing Telltale's The Walking Dead: The Final Season.
The reports also state that the upcoming Stranger Things and The Wolf Among Us projects are effectively cancelled.
It was only earlier this week that Capcom Vancouver revealed that is was shutting down, making the news about Telltale Games the second company in the space of a few days to close its doors. Capcom Vancouver's shutdown sees 158 people, according to Capcom, losing their jobs with a skeleton crew remaining until January 2019. In total, that means that around 400 talented people have lost their jobs in the space of a week.
The reason behind the sudden layoffs at Telltale Games is currently unknown as the story is still developing.
We wish the best of luck to those affected by this news in finding new work in this difficult time.