BitTorrent’s co-CEOs, Robert Delamar and Jeremy Johnson were fired along with a number of staff members. They’re also closing their production studio in Los Angeles.

Delamar and Johnson were only recently hired in April, but on top of their pretty swift termination, they’ve also been removed from the board of directors. Sources claim that the job cuts and reduction in size was in response to an overinvestment into their BitTorrent Now streaming service, which has also been closed.