In a stunning development this evening, Celestial Heavens learned that nearly two thirds of New World Computing's staff was layed off today. In a move that one business resource called a "...the start of a death spiral, if accurate...", most of the Might and Magic team, all but one of the Heroes 4 lead designers, and key members of the management team could "either move to San Francisco to work on 3DO titles, with no moving expenses paid, and a maximum allowed time for the move of 2 weeks (which must come out of accrued vacation time), or they could accept a month's severance pay." Full story over at StrategyPlanet.