Glu Mobile plans to reduce its workforce by 12 percent as the company strives to simplify and streamline the production of their new games.
“We believe concentrating resources on fewer titles, with a greater centralized support infrastructure, will accelerate revenue growth in Q4 2013 and beyond,” said Niccolo de Masi, Glu’s CEO.
News of the job cuts surfaced this week during Glu Mobile’s earnings call.
Total GAAP revenue was $19.1 million in the first quarter of 2013 compared to $21.5 million in the first quarter of 2012. Total non-GAAP revenue was $19.0 million in the first quarter of 2013 compared to $21.6 million in the first quarter of 2012.
“We were pleased with the monetization milestones delivered during the quarter in a number of both new and existing titles,” says de Masi. “We anticipate further monetization and retention traction as we continue to evolve our studio and begin to launch true games-as-a-service.”
