According MobileGamesBlog, Glu Mobile's ongoing restructuring has resulted in cuts at its London development studio.

At the moment, it's not clear if the studio, which is said to be over 45 strong, has been completely shuttered or the headcount has just been trimmed.

But in terms of Glu's ongoing losses and its commitment to "closely manage our balance sheet and cost structure", we'd expect the former.

Glu, which develops its game inhouse, also has studios in Moscow, Beijing and San Mateo, California.

The company made a loss of $18.2 million in FY2009, and finished its 2010 Q1 with a cash and cash equivalents balance of $10.5 million, and has $3.1 million outstanding on its line of credit, underlying the tightness of its current financial position.

[source: MobileGamesBlog]