Mobile gaming publisher Glu Mobile announced it will reduce headcount while slashing total annualized non-GAAP operating expenses by about $13 million, or 19 percent from second quarter 2008 levels. Glu did not indicate the number of jobs it will cut, but did say it will incur pre-tax Q4 restructuring charges related to estimated severance costs in the range of approximately $625,000 to $675,000. In addition, Glu CEO Greg Ballard will ask the company's board to reduce his salary by 25 percent.
In more positive Glu Mobile news, the firm announced it will publish a mobile game based on Watchmen, Warner Bros.' forthcoming feature adaptation of Alan Moore and Dave Gibbons' landmark DC Comics series. The game will launch worldwide in tandem with the film's U.S. premiere, scheduled for March 2009. Glu's previous licensing collaborations with Warner Bros. Digital Distribution include Speed Racer, The Dark Knight, Superman/Batman: Heroes United and Bugs Bunny: Rabbit Rescue.
For more on the Glu cuts:
- read this release [1]
Related articles:
Glu [2] to introduce Family Guy mobile game
Glu [3] inks gaming deal with Sony Pictures Television
Links:
[1] http://www.fiercewireless.com/press-releases/glu-mobile-announces-global-cost-reductions-reduce-operating-expenses-and-improve-liq
[2] http://www.fiercemobilecontent.com/story/glu-introduce-family-guy-mobile-game/2008-10-28
[3] http://www.fiercemobilecontent.com/story/glu-inks-gaming-deal-sony-pictures-television/2008-06-11