Following on from less than stellar financial results in Q3, it's being reported publisher Glu has moved to cut staff in two offices in the US and close down another altogether.
The cuts broken by GeekWire will see 25 percent of staff in Glu's office in Kirkland, Washington lose their jobs, while a further 5 percent of the workforce will be trimmed from the firm's base in San Francisco.
Difficult times
Furthermore, Glu's office Sao Paulo is to closed down completely, with Glu's president of studios expected to be moved to take charge of the firm's Kirkland office.
Glu recently posted a loss of $4.2 million in its most recent quarter that was despite a 12 percent year-on-year rise in sales to $21.3 million.
Indeed, the quarterly loss actually represented an improvement on the $7.3 million Glu lost during the same period in 2011.
Glu CFO Eric R. Ludwig has already suggested that the company is unlikely to enjoy a turnaround in Q4 2012, with a "combination of underperforming titles" and "Apple's prohibition of incentivised advertising for external HTML5 sites" hitting the firm's fortunes.It's claimed Apple's alleged action against incentivisation networks such as Tapjoy could cost Glu around $7 million a year.[source: GeekWire]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Top Stories
News
May 31st, 2024
Week in Views - Squad Busters goes global, broken app stores, and Hill Climb Racing gets the LEGO treatment
News
May 31st, 2024
Mobile Movers: All the latest appointments and job moves from around the industry
Events
Indie Game Fest & Indie Campus 2024 | Europe | May 31st |
Indie Craft K-Game Festival 2024 | Europe | May 31st |
BostonFig Online 2024 | Jun 1st | |
GameSummit Summer 2024 | Jun 1st | |
Gotland Game Conference 2024 | Nordic | Jun 3rd |
Games Mental Health Summit 2024 | Europe | Jun 3rd |
Dev Play Conference 2024 | Europe | Jun 3rd |
Tribeca Games Festival 2024 | North America | Jun 5th |