Eurocom, the developer behind the most recent 007 Legends, and the GoldenEye reboot before that, has had to reduce its staff from 200 to "just under 50 employees" Gamesindustry.biz reports.

"Eurocom [is] undertaking a restructuring which I regret to say has meant we've made the majority of our workforce redundant," reads a statement from studio director, Hugh Binns.

"This includes many very experienced, talented and highly skilled employees, and we'd like to thank them all for your hard work and efforts.

"We've fought to try and save as many jobs as possible, but the steep decline in demand for console games, culminating in a number of console projects falling through in the last week, left us with no option. Eurocom has retained a core staff of just under 50 employees and will be focusing mainly on mobile opportunities moving forward."

007 Legends was poorly received by critics the world over, and garnered a 4.2/10 on AusGamers.