Electronic Arts announced Wednesday that it is closing the BioWare studio and laying off roughly 400 employees, or about 3 percent of its workforce, including around 50 at the Edmonton-based developer.

BioWare confirmed the closure in a social media post, stating that after more than three decades the studio is shutting down and early development on the next Mass Effect project is ending. The studio cited its legacy titles including Baldur’s Gate, Neverwinter Nights, Star Wars: Knights of the Old Republic, Dragon Age, Mass Effect, and Anthem.

The move follows EA’s completion of a $55 billion leveraged buyout in August led by Saudi Arabia’s Public Investment Fund along with Silver Lake and Affinity Partners. The transaction left EA with approximately $18 billion in debt, and executives had pledged hundreds of millions in annual cost savings to investors.

EA executives David Tinson and Cam Weber told staff that the company had reviewed its portfolio and decided to align resources with higher-priority projects. In addition to ending BioWare operations, EA canceled a Sims-related project code-named Project Lotus while continuing work on others such as Project Evergreen. The skate. team is being downsized.

BioWare’s most recent release, Dragon Age: The Veilguard, missed sales expectations and drew criticism over its handling of social themes. The studio had operated under EA since the 2007 acquisition.

EA said it will continue investing in sports titles, Apex Legends, Battlefield, upcoming Star Wars projects, and a new Iron Man game. The closure marks the first major studio shutdown under the new ownership structure.