The Secret World developer Funcom has laid off an undisclosed number of staff as part of previously-announced "cost-adjustment initiatives".

The cuts are speculated to affect about half of the studio's employees, although this has not been confirmed by the Norwegian studio.

"As we announced in the stock notice that went out on August 10, Funcom is in the process of reducing operational costs and this process includes temporary layoffs as well as other initiatives," read a statement from the company.

"As we are currently in the middle of this process we cannot provide any further comment at the present time. Rest assured however that we have long-term plans for the company and that we remain fully committed to all of our games."

A rather frank investor update on August 10 attributed a drop in the company’s share price to The Secret World’s poorer-than-expected Metascore, which Funcom described as “low” and “disappointing”.