Obsidian CEO said that the company has a smaller staff than large AAA studios, but this does not prevent them from releasing games almost every year

Obsidian Entertainment, a well-known role-playing game studio, has expanded significantly under the leadership of Microsoft. In recent years, the studio has increased its staff to almost 300 people, but this is still less than many famous AAA studios, but this does not prevent Obsidian from actively releasing many games.
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The studio had about 170-180 employees in 2018 when it was acquired by Microsoft. Despite the fact that the studio remains relatively compact compared to other large developers such as Bungie (850 people), Naughty Dog (450+ people) or CD Projekt Red (615 people), Obsidian demonstrates extraordinary productivity.
Since 2020, the studio has released three games: Grounded, Pentiment , and Avowed, and the fourth, The Outer Worlds 2, is expected by the end of this year. This is a solid pace of development, especially considering the growth of game development budgets and the increase in the timeframe for their creation.
Obsidian's strategy is not to strive to create blockbusters, but to focus on developing games with a high level of design, scripting, and art direction. This approach allows them to create games that can compete with big projects without spending huge amounts of money.
Compared to large studios, which are often forced to create hits under the threat of massive layoffs, Obsidian has chosen a more restrained approach.
Source: Windows Central