The Blast Furnace was Activision's mobile studio based out of the UK, where they made Call of Duty: Strike Team, Pitfall, and Wipeout. Their mobile plans evidently didn't pan out as they had hoped, as the studio will be closing down by the end of the month.
Activision was exploring options to keep the studio together, but after weighing their options, including the potential sale of the studio, they've had to shut them down. Activision is offering resources to help the staff of 47 find new jobs. Best of luck to all those affected.
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destructoid's previous coverage: Call of Duty: Strike Team