Namco Bandai posts huge losses, fires 10% of its staff
Looks like charging obscene amounts of money for terrible downloadable content didn't work out so well.
Namco Bandai has recorded a massive loss of ¥11.7bn (£81.3m / $129.5m) over the nine months ending December 31, after last year recording a profit of ¥9.01 billion (£62.3m / $99.4m). Net sales are down 10.4%, and operating income is down 76.3%.
Even worse is the announcement that Namco will be firing 10% of its workforce, with estimated layoffs numbering 630. The round of firings will be part of a "Group Restart Plan" instigated by Namco Bandai to react to its slipping position.
So yeah, good times are not to be found at Namco's offices today. I'd show some sympathy, but when these guys stop trying to pass off on-disc content and in-game currency as DLC items, I'll demonstrate a little remorse.
Namco Bandai to cut 10% of workforce [GI.biz] Setup email comments
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