About half of the staff have found positions within Microsoft Game Studios, but the other employees will have lost their jobs. FASA's last title was Shadowrun which received three title updates, even after the team learned they were losing the studio, which is quite admirable.
The staff member ended the announcement with the following comment "as the last of us say our goodbyes to each other, I’m saying goodbye to you on behalf of a group of talented and dedicated professionals who busted their humps for the love of the game. I am proud to have worked with and represented them to you and know that wherever they go, they will continue to kick ass."

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