Glu Mobile has announced plans for a reduction in headcount across its global organisation, as part of cost-cutting measures designed to save $13 million.
The publisher hasn't said how many staff will go, or where the cuts will fall.
There's more to this than just hunkering down in the face of the global economic slump. It's no secret that Glu has a pretty urgent need to cut down its cash burn.
"These actions will improve our liquidity in 2009, and we continue to explore other avenues to improve our available cash and credit positions," says CFO and senior VP Eric Ludwig.
CEO Greg Ballard says the cuts won't prevent Glu from investing in platforms like iPhone, Android and N-Gage in the months ahead. Today, the publisher launched its second iPhone game, although its ad-funded experiment with its first iPhone title hasn't gone that well.
Ballard has also asked the board to reduce his salary by 25 per cent as part of the cost cuts. Earlier this year, an SEC filing by the company revealed his annual salary was $375,000, so he'll now be on around $281,000.
Glu estimates that the job losses will lead to pre-tax restructuring charges this quarter of between $625,000 and $675,000.
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