Kotaku are reporting that owner EA have let Pandemic Studios in Brisbane "free". The studio was part of EA huge purchase of Bioware/Pandemic from Elevation Partners ($800 million) and have been responsible for the first two Destroy All Humans games.
They have been rumoured to be working a game based on The Dark Knight that according to the same source has been cancelled. In a very gracious move EA allowed the developer to keep their equipment and let them own the original IP they were apparently working on. Of course, there will be lay offs as no money is coming in, but hopefully the studio can bounce back in the future. Nothing official about this has been stated as of yet, and there is no word if EA are planning something similar for Pandemic Studios in Los Angeles.