The studio responsible for Borderlands: The Pre-Sequel has closed its doors. Employees are either being let go or reassigned. The studio was responsible for the revival attempt at the Tribes franchise back in 2004, Bioshock 2, Bioshock Infinite and the much maligned The Bureau: XCOM Declassified. The reason for the closure was apparently due to high operating costs. Australia has officially lost its last triple-A development studio.
Kotaku Australia broke the original story yesterday.
Source: Kotaku Australia