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Home » Featured, News

Namco Bandai to have a mass job cull

Submitted by on Tuesday, 2 February 2010One Comment

namco Namco Bandai to have a mass job cullIt seems that the recession has claimed another scalp, as Namco Bandai have announced they plan to cut its workforce by 10% due to a weak financial year.

This cut equates to 630 job losses, which will save £24.25 million in the next financial year.

This saving will definitely be needed, as Namco Bandai have lost a whopping £81.04 million in the nine months leading up to December 2009.

A spokesperson for the company had this to say;

“The Bandai Namco group generally faced an uphill battle in the first nine months of the fiscal year ending March 2010, during which market conditions for the group remained severe.

In the Game Contents business in particular, sales fell below projections given weak market conditions for most of major home game software titles except Tekken 6, the largest title released in the current fiscal year, leading to weak results for the segment.”

What with this, EA’s staff cut and the recently announced Studio Liverpool restructuring all occurring in the last 3 months, it’s a worrying time to be in the games industry.

Unless of course your game’s name rhymes with Ball of Cutie: Maudlin Welfare 2, in which case you have a billion reasons to feel relatively secure…