Report: Eidos-Montreal cancels new game that it spent hundreds of millions of dollars to produce

New information has surfaced on Eidos-Montreal's cancelled games lineup, as per reports from Insider Gaming's Tom Henderson.

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Like most of the games industry, Eidos-Montreal has had to adjust to new stark financial realities, culminating in three rounds of layoffs at the studio. New reports say that the recent wave of layoffs also came with the official cancellation of a big-budget AAA project that had been in development for multiple years.

Sources tell Insider Gaming that Eidos-Montreal had spent hundreds of millions of dollars producing an open-world third-person game set in a fantasy world. The game was apparently called Wildlands, but was known internally as P11, so-named because it was the 11th project that the studio had worked on. It was said to be almost complete before its cancellation.

Due to worldwide disruptions, which has scaled back funding for big games and driven up prices for production and distribution, Eidos-Montreal has also cancelled a new Deus Ex project while laying off nearly 300 workers so far.

The latest round saw Eidos-Montreal studio chief David Anfossi leaving the group after 19 years with the company.

It's unclear why these projects were cancelled, but given they were never capitalized and brought to market, P11 and Deus Ex may hit the beleaguered Eidos-Montreal with impairment charges at a time when the studio is probably already reducing its headcount.

Right now, Eidos-Montreal is said to be assisting with development of Playground Games' new Fable reboot for Xbox.

Remember that Embracer Group owns the studio, and that Eidos-Montreal is actually part of a joint operating unit alongside Crystal Dynamics.