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EVE Online: CCP Closes San Francisco Office, Fires Two Execs

SBFordSBFord Associate Editor - News ManagerThe CitadelPosts: 19,662MMORPG.COM Staff Rare

Gamasutra is reporting that EVE Online's developer, CCP Games, has closed its San Francisco offices and fired two US executives. According to the report, overall revenues at CCP are down this year, likely prompting the layoffs.

Revenues for the first six months of the current fiscal year were $36.5 million, down from $36.7 million year-over-year, while earnings before interest, taxes and depreciation were $4.5 million, down from $8.3 million year-over-year.



Joe Gallo, CFO at CCP Games, and David Reid, CMO at the company, have both left the company, said CCP in its latest financial statement.

Read more at Gamasutra.

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Comments

  • DMKanoDMKano Gamercentral, AKPosts: 11,842Member Epic

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

  • GdemamiGdemami Beau VallonPosts: 9,102Member Rare

    Does it?

    It thought their office at SF was working on EVE Online too.

  • Mtibbs1989Mtibbs1989 Posts: 2,975Member Uncommon
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    Think someone is going to hire an exec. who was likely to contribute to a 4 million dollar loss?

    image

    Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
  • DMKanoDMKano Gamercentral, AKPosts: 11,842Member Epic
    Originally posted by Gdemami

    Does it?

    It thought their office at SF was working on EVE Online too.

    My point was the financial strain is NOT due to EvE , but due to paying off debt.

    All staff is often impacted in some way from all different projects when coat cutting measures go through.

     

  • DMKanoDMKano Gamercentral, AKPosts: 11,842Member Epic
    Originally posted by Mtibbs1989
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    Think someone is going to hire an exec. who was likely to contribute to a 4 million dollar loss?

    Yes - otherwise most execs would be out of a job forever - execs get axed a lot.

     

  • Mtibbs1989Mtibbs1989 Posts: 2,975Member Uncommon
    Originally posted by DMKano
    Originally posted by Mtibbs1989
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    Think someone is going to hire an exec. who was likely to contribute to a 4 million dollar loss?

    Yes - otherwise most execs would be out of a job forever - execs get axed a lot.

     

    Strange world sometimes. If an exec. lost millions he wouldn't set foot in a business I owned~

    image

    Somebody, somewhere has better skills as you have, more experience as you have, is smarter than you, has more friends as you do and can stay online longer. Just pray he's not out to get you.
  • PioneerStewPioneerStew londonPosts: 874Member
    Originally posted by Mtibbs1989
    Originally posted by DMKano
    Originally posted by Mtibbs1989
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    Think someone is going to hire an exec. who was likely to contribute to a 4 million dollar loss?

    Yes - otherwise most execs would be out of a job forever - execs get axed a lot.

     

    Strange world sometimes. If an exec. lost millions he wouldn't set foot in a business I owned~

    It is who you know, not what you know.  It is why you get so many incompetent arsehats in positions of power.  

  • AlverantAlverant Wheaton, ILPosts: 668Member Uncommon
    Originally posted by Mtibbs1989

    Think someone is going to hire an exec. who was likely to contribute to a 4 million dollar loss?

    Of course! Execs are never responsible for anything bad that happened to their company, only the good things. That's why they get paid so much and the other employees so little.

  • Methos12Methos12 Maladis 46Posts: 1,239Member Uncommon
    It still remains beyond me why they keep stretching themselves so thin with multiple projects, getting them halfway done and then reality kicking in and cancelling them. Is no one actually thinking this through at CCCP?

    Nature without Technology is little more than animals running about.
    Nature without Magic is without wonder or miracle.
    .........
    Magic without Technology is fantasy.
    Magic without Nature is formless and useless.
    .........
    Technology without Nature is application without understanding.
    Technology without Magic is repetitious and uninventive.
  • hfztthfztt GlostrupPosts: 1,018Member Uncommon
    Originally posted by Mtibbs1989
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    Think someone is going to hire an exec. who was likely to contribute to a 4 million dollar loss?

    Well, we all make mistakes. I would rather have one that allready made his mistakes and learned from it for somebody elses money, than get one to make mistakes and learn from it with my money...

  • PioneerStewPioneerStew londonPosts: 874Member
    Originally posted by hfztt
    Originally posted by Mtibbs1989
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    Think someone is going to hire an exec. who was likely to contribute to a 4 million dollar loss?

    Well, we all make mistakes. I would rather have one that allready made his mistakes and learned from it for somebody elses money, than get one to make mistakes and learn from it with my money...

    How about getting one with a track record of making money rather than losing it? 

    I say that, but the success of people in these positions is largely down to being in the right place at the right time in the right market, and has very little to do with their acumen or corporate strategy.  

     

  • Agent_JosephAgent_Joseph Posts: 1,160Member Uncommon

    ccp should stop spending EVE earning money on failed project or any other project,they can work only at  one game not any other.

     

    only EVE is real MMO...but I am impressive with TSW

  • KyleranKyleran Paradise City, FLPosts: 21,768Member Epic
    Tough times in CCP land these days, I hope this encourages them to continue to focus on their core business and stop pursuing unrelated gaming activities.

    I'll go reactivate a 4th sub this weekend to help them out.

    "Winning" at EVE Online since May, 2007! 

    In my day MMORPG's were so hard we fought our way through dungeons in the snow, uphill both ways.

    Don't just play games, inhabit virtual worlds™
    "This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon


  • ElandrialElandrial atlanta, GAPosts: 163Member Uncommon
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    what abandonded projects?the only thing they do IS EVE.eve dust and eve valkyrie.so what great new project did they do and abandon?that is NOT EVE related?

  • ElandrialElandrial atlanta, GAPosts: 163Member Uncommon
    Originally posted by Kyleran
    Tough times in CCP land these days, I hope this encourages them to continue to focus on their core business and stop pursuing unrelated gaming activities.

    I'll go reactivate a 4th sub this weekend to help them out.

    wow that is nice of you to activate a sub for a company that would not give you the time of day.but ,hey its your money,go for it.in fact make 10 more account,i am sure they will LOVE you.

  • mklinicmklinic Posts: 1,459Member Uncommon
    Originally posted by Elandrial
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    what abandonded projects?the only thing they do IS EVE.eve dust and eve valkyrie.so what great new project did they do and abandon?that is NOT EVE related?

    World of Darkness is the one that comes to mind. not aware of others.

    edit: some links about the cancellation of the project.

    http://www.polygon.com/2014/5/2/5674352/World-of-darkness-cancellation-CCP-Fanfest

    http://www.theguardian.com/technology/2014/jun/05/world-of-darkness-the-inside-story-mmo-ccp-white-wolf

    -mklinic

    "There's a point I think we're missing.
    It's in the air we raise our fists in."
    -from Behind Closed Doors by Rise Against

  • TiamatRoarTiamatRoar Potomac, MDPosts: 1,207Member Uncommon
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

     

    I'm an accountant, but I admit I could be missing something here or maybe the original article is poorly worded.  Taken at face value, however, "Revenue" has nothing to do with expenses or cash OUTput, be it paying off debt or expenses from amortization.

     

    Revenue is generally just one thing only.  How much cash you've received from sales of your product.

     

    Therefore, assuming the article really does mean "Revenue", this has nothing to do with amortization of an abandoned project or paying off debts.  It has nothing to do with failed projects in general. Revenue, if that's what it really was, only can mean one thing:  Incoming money from their current products is a lot less than what it was last time.

  • mklinicmklinic Posts: 1,459Member Uncommon
    Originally posted by TiamatRoar
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

    I'm an accountant, but I admit I could be missing something here or maybe the original article is poorly worded.  Taken at face value, however, "Revenue" has nothing to do with expenses or cash OUTput, be it paying off debt or expenses from amortization.

    Revenue is generally just one thing only.  How much cash you've received from sales of your product.

    Therefore, assuming the article really does mean "Revenue", this has nothing to do with amortization of an abandoned project or paying off debts.  It has nothing to do with failed projects in general. Revenue, if that's what it really was, only can mean one thing:  Incoming money from their current products is a lot less than what it was last time.

     

    From the article:

    "Revenues for the first six months of the current fiscal year were $36.5 million, down from $36.7 million year-over-year, while earnings before interest, taxes and depreciation were $4.5 million, down from $8.3 million year-over-year."

    Would this mean revenue was actually fairly flat at a .2 million difference? Would earning include amortization and such? Or, if not, what would cover the difference in the earning numbers while still appearing to have a relatively steady revenue number? (asking for info, not trying to argue in case it comes across that way)

    -mklinic

    "There's a point I think we're missing.
    It's in the air we raise our fists in."
    -from Behind Closed Doors by Rise Against

  • kosackosac Bakov nad JizerouPosts: 190Member Uncommon
    so.. walking in the station release date?
  • F0URTWENTYF0URTWENTY dsadPosts: 349Member Uncommon

    Eve has been loosing players steadily since 2010. This is because of poor management and poor game design. They have not added any real content since 2011. 

    CCP is allowing eve to die to support making 2 other games. 

    Subs will keep dropping unless CCP gets new management.

  • PrecusorPrecusor PalmaPosts: 3,563Member Uncommon
    Originally posted by Methos12
    It still remains beyond me why they keep stretching themselves so thin with multiple projects, getting them halfway done and then reality kicking in and cancelling them. Is no one actually thinking this through at CCCP?

    CCP CEOs really did have delusions of grandeur.

  • laseritlaserit Vancouver, BCPosts: 3,026Member Rare
    Originally posted by Mtibbs1989
    Originally posted by DMKano
    Originally posted by Mtibbs1989
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    Think someone is going to hire an exec. who was likely to contribute to a 4 million dollar loss?

    Yes - otherwise most execs would be out of a job forever - execs get axed a lot.

     

    Strange world sometimes. If an exec. lost millions he wouldn't set foot in a business I owned~

    These days you can lose multi millions  and get a nice bonus for it.

    "Be water my friend" - Bruce Lee

  • BetaguyBetaguy Halifax, NSPosts: 2,573Member Uncommon
    Originally posted by DMKano

    This has nothing to do with EvE before - those speculation surface.

    This is due to amortization of an abandoned project.

    Best of luck to all affected by layoffs - at least San Fran has lots of game studios that are hiring.

     

    Of course it has nothing to do with EVE, however, will it affect EVE? Yes.

    image

  • mayito7777mayito7777 Saint Cloud, FLPosts: 752Member Uncommon
    Originally posted by threefeet

    this is what happens when you let pvp-ers mostly take over a pve AND pvp game. no one likes wondering if stalkers are around the next corner to waste you any second. so they dont play it. when you gank people like that people leave, when they leave the company loses money, when the company loses money people get fired. when people get fired the company closes, then you f*ck up the entire game not only for those you ganked, but now yourselves. if you dont feel bad you should, because you who play full time pvp did this.

     

    i seem to recall reading a subject here in the forums about this very same subject, in support of the pvp-ers doing that in EVE specifically.  enjoy your soon-to-be shut down EVE.

    Amen, agreed 100%. Gankers are the doom of any game.

    want 7 free days of playing? Try this

    http://www.swtor.com/r/ZptVnY

  • Octagon7711Octagon7711 Chicago, ILPosts: 2,686Member Rare
    So...can I have their stuff?  :-)

    "Change is the only constant."

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