Developer Deviation Games' quietly struggling PS5 exclusive has reportedly been cancelled, according to industry insider and analyst Colin Moriarty and a source familiar with the project. Moriarty says he learned of the recent layoffs weeks in advance from the source and that the project has now been scrapped.

Moriarty revealed the news on the most recent episode of his Sacred Symbols podcast, starting around the 2:45:55 mark above (thanks, PlayStation LifeStyle). Last year, we brought you the news that Deviation co-founder Jason Blundell had left the studio and that PlayStation Studios' big dog Herman Hulst stopped by to kick the tyres on the mysterious project.

We'll file this as a Rumour until we hear official confirmation, but this isn't Moriarty's first rodeo, and the signs are all there. Let us know how this makes you feel in the comments section below.

[source News: Deviation Games' PS5 Exclusive Project Doesn't Appear to Be Progressing Well]