UPDATE (April 16th, 4:12pm EDT): Within an hour of publishing, IGN received a statement from 2K Games confirming the studio closure. Thanks to Penterax in the comments for the tip.
According to a tip sent to Kotaku Australia, and currently no other source, 2K Australia has been closed down. The studio is most recently known for Borderlands: The Pre-Sequel, but they have also contributed to all three BioShock titles and, when they were a formal division of Irrational Games, worked on SWAT 4 and Tribes: Vengeance. And yes, it is very tempting to call it “Police Quest: SWAT 4”.
At the time of writing, we are still waiting on an official statement from 2K Australia or its parent companies, 2K Games and Take-Two Interactive. The source claims that all staff members will lose their jobs and the entire studio will be closed. There are also not too many alternatives in the continent. EA has a subsidiary that develops mobile titles, Firemonkeys Studios, which has about 60 employees. They are about 400 miles away from where 2K Australia was though. A Google Doc is being maintained with many prospects, although about half of the openings are in North America and New Zealand.