California-based company Mad Catz is best known for producing a large variety of gaming peripherals and accessories over the years, but took a larger stab at software production by helping Harmonix co-distribute Rock Band 4 last year, putting a large investment into producing new instrument controllers as well as promoting the title.
While the game received a generally positive critical reception, it seems that overall sales didn’t meet Mad Catz’s expectations, and the company will consequently go through a major restructuring over the next fiscal year.
A whopping 37% of Mad Catz’s staff will be let go in the process, which is expected to save the company $5 million by 2017. While the past quarter’s total sales of $65 million were the second-highest the company has ever had, a significant decrease in net income resulted in a loss of over $4 million.
Darren Richardson, the company’s president and CEO, stepped down...
While the game received a generally positive critical reception, it seems that overall sales didn’t meet Mad Catz’s expectations, and the company will consequently go through a major restructuring over the next fiscal year.
A whopping 37% of Mad Catz’s staff will be let go in the process, which is expected to save the company $5 million by 2017. While the past quarter’s total sales of $65 million were the second-highest the company has ever had, a significant decrease in net income resulted in a loss of over $4 million.
Darren Richardson, the company’s president and CEO, stepped down...
- 2/10/2016
- by John Fleury
- We Got This Covered
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.