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Gameloft shuts down India-based studio at a loss of 200 jobs

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Mobile and social games developer Gameloft shut down its India-based studio to a loss of roughly 200 jobs, MCV reports.

Employees at the India studio, based in the city of Hyderabad, were reportedly told of its impending closure yesterday, which was said to be a "strategic decision" made by Gameloft headquarters. Sources close to MCV stated employees were made two sign two documents: one confirming the employee resigned of their own accord, while the other agreeing that the studio would deal with all financial settlements by next month.

The Hyderabad studio was involved in porting and testing titles. Gameloft hasn't left India entirely, however. The company also has a small office in Delhi which remains operational.

This news follows Gameloft's announcement yesterday that acknowledged a 23 percent increase in sales during the fourth quarter of 2012 as compared to the same quarter during the year prior. Gameloft earned consolidated sales of €57.7 million ($77.7 million) during the fourth quarter of fiscal year 2012, with total sales for 2012 reaching €208.3 million ($280.7 million).

Polygon has reached out to Gameloft for comment and will update when more information is available.