As reported by Bloomberg, Xbox has closed down studio The Initiative and subsequently canceled the upcoming Perfect Dark reboot. Rare's Everwild has also been canceled, as well as an unannounced online title from The Elder Scrolls Online developer Zenimax Online Studios.

Microsoft is canceling its Perfect Dark and Everwild games as part of sweeping cuts to its Xbox division. Xbox Game Studios chief Matt Booty revealed that Microsoft will be closing The Initiative, the studio behind Perfect Dark, in an internal memo to Xbox employees today.

In today's gaming world, a decade of development can sometimes amount to nothing. Parent company Microsoft has reportedly cancelled Rare's long-in-development project Everwild. The news comes amid broader layoffs across Microsoft's Xbox division.