According to the job description, the game could very well be a shooter and would support online play and services.
A couple of the listings require a Lead Online Engineer and a Senior AI Engineer where the latter should have “7+ years of experience in building AI systems across multiple shipped titles especially in action or shooter games”.
One position states that the applicant should have vast experience with the Unreal engine. This probably means that the game will be built upon that.
It’s unsure as to whether this is going to be an exclusive title for the Xbox 360 library of games or if it will be released on the PS3 as well. Microsoft has yet to officially confirm and announce the new IP from Vancouver Studios.