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UPDATE: Red 5 has released a press announcement about "reorganization":
RED 5 REORGANIZES FOR FUTURE FIREFALL LAUNCH
Red 5 Studios Prepares Company for New Operational Structure
Laguna Hills, Calif. – September 16, 2013 – Red 5 Studios™ announced today that the studio is being reorganized prior to the launch of Firefall.
“As Firefall matures, we must transition our priorities and our development strategy to focus on streamlined operations and live product support,” said Mark Kern, CEO and founder of Red 5 Studios.
As part of the reorganization, Red 5 Studios confirms that it has released about 10 percent of its staff, the majority from Red 5’s video internet entertainment channel, Stage 5 TV. Development of Firefall is unaffected by the reorganization and Open Beta Stage 2 is well underway with a major patch scheduled for later this month.
According to a Tweet from industry-insider, David Bass, there has been a round of layoffs at Firefall developer, Red 5 Studios. At this time, we have no confirmation of the rumor but are digging for more information. We'll keep you posted as the story develops.
Really sorry to hear about the layoffs at Red 5. The individual people at that studio are brilliant and didn't deserve this.
— David Bass (@doctordake)