Wasn't surprised at all when I first read it. No one uses their engines and Warface was nothing spectacular. One AAA franchise (and that too a mediocore one) is not enough to keep companies like Crytek going.
On the otherhand:
Crytek Denies Being on the Verge of Bankruptcy
Game developer Crytek denies to be in financial problems. Rumors appeared over the weekend through website gamestar. In an interview with Eurogamer the studio denies all rumors. Now you can track-back the rumors towards wargaming.net, the studio behind World of Tanks actually tried to purchase Crytek. Anvi Yerli, co-founder of Crytek stated to Gamestar that a potential take-over from Wargaming would save the studio', as it would raise important funds for them.The rumor that Crytek would be in rough waters is amplified by the fact that a number of employees two months before E3 did not receive their salary either in time or not at all. Also a number of management staff applied for a job at competing parties, the 800 people currently employed by Crytek is too much. Further declining funds from Ryse: Son of Rome due to low sales have not been helping the studio one bit either. Regardless, in the interview Crytek denies all rumors and is going full-throttle in development for Homefront The Revolution and Arena of Fate. Also, Crytek states it will support CryEnigine to the fullest.
"'The vultures are circling already,' so says a leading employee of one of the large publishers. Companies like this have already started making offers to the most talented people at Crytek, to hire them away. Such a brain drain can become dangerous for any studio, even a financially stable one.
"A takeover of Crytek would be interesting for a company, that could use the development-experience of the Crytek and doesn't want to build up such experience itself. That is why the Belarus F2P-giant Wargaming is rumoured to be a potential buyer.
"When you are reading this, there is hope that Crytek has managed to avoid disaster. A new source of money, said Avni Yerli [one of the managing directors], is in sight. When we called him in early June, the contract had not yet been signed, but will be in a short while. 'Not all is good. Our transition to become a F2P-studio had been painful. But all that is now behind us.'"