No details were provided on the canceled titles, though the company noted they were "unlikely to generate an acceptable return on investment or are not of appropriate quality."

Going forward, SCi will focus on what it described as its "cornerstone products," including Tomb Raider, Hitman, Championship Manager and Deus Ex. Of those franchises, new Tomb Raider and Deus Ex titles are known to be in development.

Other properties held by the company include Carmageddon and Kane & Lynch: Dead Men.

In addition to cutting 25% of its staff, bringing its workforce down to 800 people, SCi will also relocate much of its production staff from London to Montreal. The company hopes the shifts will reduce its annual operating costs by 14 million GBP, roughly $27.8 million.

Earlier this year, SCi's poor performance resulted in a management shift, with chairman Tim Ryan claiming he would "pursue every opportunity to sell [SCi]."

"SCi is in need of immediate change," chief executive Phil Rogers said today. "I am confident our staff share this vision and excitement for the future, and determination to build a working environment where our innovation and creativity can be commercially realised."