So sorry about the dup. I only saw it today on BluesNews.
Cryptic isn't closing, it's just downsizing and I'm guessing the easiest ways to do this is A) consolidate CS or even farm it out and B) get rid of the higher paid employees (with families) and keep the single 60 hour a week new to the industry youngsters. They also may move STO to a slower new content cycle since they just released a new update so good as time as any to pull back, putting your hopes into yet another fantasy MMO (but it's D&D based).
Honestly don't we have enough of these? Mine a niche, be the best in that niche and pray to God that niche doesn't become mainstream. See CoH.