Posts Tagged ‘layoffs’
It’s always a sad day when news come in of hard-working individuals losing their cherished jobs– and, regrettably, today’s one of those dismal days. In a precise news release, Lexmark’s let it be recognized it’ll be be going through a company-wide restructure, however with the primary focus being the exiting of the attire’s inkjet hardware development and production– which, in the end, should save the printer producer about $ 95 million per year once the plan has taken place. Naturally, this doesn’t come without any backlashes, as Lexmark’s revealed these restructuring actions will see around 1,700 around the world jobs be lost; 1,100 of which are producing positions, and additionally consist of the closing of an inkjet supplies making plant in the Philippines. Needless to say, we can just wish Lexmark sees far better days. In the meantime, nevertheless, you can peruse over the company’s official word in the presser located right past the break.
: Misc, PeripheralsLexmark announces precise restructuring plan: 1,700 layoffs, inkjet business to be nixed originally appearedon Engadget on Tue, 28 Aug 2012 15:52:00 EDT. Please see our terms for use of feeds. Permalink | Lexmark|Email this|Comments
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OnLive statement confirms layoffs, acquisition by ‘newly-formed’ company, says service will continue
OnLive has actually finally provided an official statement after rumors of mass layoffs initially leaked out earlier today, confirming that its assets have been obtained into a newly-formed business with exactly what it claims is “substantial” economic backing. The large news for individuals is that the OnLive Game and Personal computer services will certainly continue to be functional and continue to be supported. The release also claims a “big portion” of OnLive staff is being employed into the brand-new company with plans to choose even more over time. Check the words directly from the source after the break, we’ll have even more details from a few of the displaced staff members in a few.
InternetOnLive statement verifies layoffs, acquisition by ‘newly-formed’ company, states service will certainly continue initially appeared on Engadget on Fri, 17 Aug 2012 20:06:00 EDT. Please see our terms for use of feeds. Permalink|| E-mail this|Comments
It’s a sign of the times. Crowdstar is through with making games for Facebook and the company has just raised another $ 11.5 million to double-down on their move toward mobile gaming. The company’s existing investors including Time Warner, Intel Capital, YouWeb, The9, and NV Investments all topped up, bringing the company’s total funding to $ 35 million. Chief executive Peter Relan says there are some new investors too, but he couldn’t disclose who they are.
“Last year’s mission was pivot to mobile and this year’s mission is profitable growth,” Relan said in an interview. “We see the mobile market as five to six times larger than the Facebook social games market.”
You may know Crowdstar from such absurdist titles as Top Girl and Social Girl. In the game, you’re a girl who needs to buy virtual clothing, meet other virtual girlfriends and get a virtual boyfriend. At times, the game’s notifications have screamed at me, “YOU’RE NOT HOT ENOUGH!” I have also dated “Kevin, the Cutter of Meat” in the original Top Girl game.
Crowdstar is moving off Facebook as the platform is no longer as profitable as it once was for casual game developers. Facebook has clamped down on viral channels for game developers over the past two years, and its 30 percent revenue share is eating into profit margins. Even though Apple also takes the same revenue share, it has more than 250 million iTunes accounts. That means Apple has a wealth of credit cards to tap into, which makes it a lot easier for consumers to pay for things in games. Of the 845 million users that Facebook had by year-end of 2011, only 15 million people paid with Facebook Credits, according to its IPO filing.
Zynga is also definitively the leader on the Facebook platform, which makes it harder for new companies to break though (although Sweden’s King.com and Germany’s Wooga have had some success). In contrast, mobile gaming is still wide open. There’s still no single dominant player.
“Look at Temple Run and Dragonvale. The top mobile game can come from anywhere. The idea that the top game on Facebook could come from anywhere is silly,” Relan said, pointing to Zynga’s dominance on Facebook.
Unlike Zynga, Crowdstar’s titles skew a little younger. They’re for women ages 13 to 30. The mobile versions of the games have brought Crowdstar 25 million users and revenues are 80 percent from iOS and 20 percent from Android. Google Play and Amazon’s appstore are even in total monthly revenue. Amazon’s users are more lucrative. But since there are fewer of them, it balances out overall.
Crowdstar is also laying off about 25 people on the Facebook side of the company. Relan says he’s finding them jobs with other companies in his network. (He runs the gaming-centric YouWeb incubator, which has spawned companies like OpenFeint, which sold to GREE last year for $ 104 million.)
“The people no longer staying at CrowdStar’s Facebook studios have already been referred to other YouWeb companies as well as other games companies that we regard with great respect,” he said.
That’s not to say that mobile gaming will be a cakewalk. The profit margins on the business have come under pressure over the last 18 months with increasing competition. Apple has also cracked down on cheaper, and more unscrupulous, ways of acquiring users like download bots and offer walls.
Recent exits in the space like OMGPOP’s sale to Zynga and yesterday’s sale of Funzio to GREE have also set a benchmark valuation of roughly $ 200 million for leading gaming companies. Crowdstar’s $ 35 million in funding doesn’t imply a lot of room for return for later investors.
But Relan says that Crowdstar’s approach is more defensible since it’s highly focused on one demographic sliver of the market: young women.
“We’re not Pocket Gems and we’re not TinyCo,” Relan said, referring to the companies that top-tier venture firms Sequoia Capital and Andreessen Horowitz have bet on. “They’re going for a non-selective audience. They’re competing against the Zyngas and GREEs of the world.”
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FCC responds to AT&T’s harsh language over T-Mobile layoffs: ‘merger would have resulted in significant job losses’
When AT&T’s Jim Cicconi took the FCC to task for its recommendation against the T-Mobile acquisition, the FCC swiftly responded — on Twitter, no less. Cicconi was back at it earlier today, pointing to T-Mobile’s announcement of 1,900 net layoffs and suggesting they didn’t have to happen if only the Commission had let the acquisition go through. Once again the FCC has responded to the company’s harsh language, though with more measured, data-driven language this time:
In a short period of time, T-Mobile has re-emerged as a vibrant competitor in the mobile marketplace. Competition benefits all wireless consumers. The bottom line is that AT&T’s proposal to acquire a major competitor was unprecedented in scope and the company’s own…
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Today in Tech: AOL layoffs start today
Also: iPad 2 reviews, Microsoft Kinect breaks sales record, and Charlie Sheen gets thousands of intern applicants.
Read more on CNN Money
Top Story: Microsoft says more core-friendly Kinect titles on the way
Core gamers have often criticized Kinect for its “casual-friendly” software lineup. This morning’s Top Story is Microsoft’s assertion it won’t always be that way.
Read more on GamePro
Microsoft’s Kudo Tsunoda to Keynote MI6 2011
MI6, the association dedicated to the success of marketing, promotion and advertising professionals in the interactive entertainment community, will host Kudo Tsunoda, creative director of Kinect for Xbox 360 and general manager of Microsoft Game Studios, to present the keynote address for the sixth annual 2011 MI6 Game Marketing Conference. Ã‚ The conference will take place on April 7, 2011 at …
Read more on PR Newswire via Yahoo! Finance
Nothing like rumors of corporate layoffs to throw 89,000 Microsoft employees into unproductive turmoil. This time the rumors are being mongered by the Wall Street Journal and TechFlash, both of whom have been told to expect “far smaller” cuts than the 5,000 heads lost during the global financial downturn. And while it’s easy to come to the conclusion that this round of layoffs is the result of the Kin debacle, keep in mind that Microsoft is entering a new fiscal year — the perfect time to trim down and refocus on new strategies. Still, if this does affect the Kin team, then let’s just hope that the skilled engineers toiling inside the project’s pink trenches are spared when the reductions begin as soon as today, according to TechFlash. While J Allard may be gone, one executive alone doesn’t create a culture and governance model that builds multi-million dollar silos of duplication and then turns a blind eye to inter-team stonewalling. We say aim high when it comes time to swing that axe Microsoft.
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