Namco Bandai, creator and developer of games like Dragon Ball: Raging Blast and Soul Calibur: Broken Destiny, is planning to lay off 630 employees.
Despite the success of Tekken 6, which was released last year for the PS3 and Xbox 360, Namco Bandai suffered major losses last year and will continue to cut 10% of its workforce this year.
The figures don't lie. According to the report, Namco Bandai lost $129.5 milliion in the eight months between April and December of last year. The company's fiscal year ends next month in March - and Namco's projections reduced its net income from $93.8 million in profits to $241 million in losses. Sales also decreased, from $4.4 billion to $4.2 billion.
The company is planning to launch a group restart plan in two months, at the start of April 2010. This new strategy alters the current structure of management in every aspect of the company. This will hopefully allow the brand to be more flexible when reacting to market developments and consumer demands. It will also cut 630 employees in an attempt to conserve money.
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