Sony Interactive Studios is swinging the axe with a ferocity even God of War’s Kratos would have trouble matching. The video game company announced plans Tuesday to shut down two internal studios and to “permanently sunset” Concord, the online multiplayer shooter it took offline after less than two weeks in September.

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It’s a brutal end to a game (and game studio) the company supported for nearly a decade and one that could result in a markdown of well over $100 million.

“We have spent considerable time these past few months exploring all our options,” wrote Hermen Hulst, CEO of the Studio Business Group at Sony Interactive Entertainment in a blog post. “After much thought, we have determined the best path forward is to permanently sunset the game and close the studio. I want to thank all of Firewalk [Studios] for their craftsmanship, creative spirit, and dedication.”

The end of Concord

Firewalk reportedly spent eight years developing Concord (more than double the typical length of time it takes to create a game), and Sony had high hopes for the franchise. The studio employed roughly 150 people, including veterans of game companies, such as Bungie and Activision. Sony did not reply to Fast Company’s request for comment on how much it had spent on Firewalk and Concord, but some estimates have topped $200 million.

When Sony initially took Concord offline last month, the company implied it was considering making changes to the game and making it a free-to-play offering. But in his blog post, Hulst (who, behind the scenes at Sony, was said to be a big supporter of Concord) did not mince words, saying, “the PvP first-person shooter genre is a competitive space that’s continuously evolving, and unfortunately, we did not hit our targets with this title.

Another studio is also cut

Sony is also closing Neon Koi, a development studio that focused on mobile titles. Hulst acknowledged that Sony is in the early stages of exploring the mobile marketplace and the company felt the money earmarked for that studio could be better used to grow the overall PlayStation brand.