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As if it wasn't a big deal, Funcom casually announced in their financial report that they had fired half their staff in Q4/2012 and that in Q1/2013 they anticipated axing another 25% of their staff.
And remember this is Funcom, so they don't mean 50%, and then 25% of the remainder. They would have been clear if that was the case.
No, it means that Funcom in 6 months will have shed 75% of its employees.
After all, the company is barely able to keep 7 million dollars a quarter flowing through the company coffers, despite having 2 AAA MMOs.
Other fun notes:
1) The hub of Funcom in Norway has been gutted to less than 40 people.
2) If you were an Asian based Funcom employee, you lost your job.
3) If you were an employee in the U.S., you most likely lost your job.
4) Montreal was saved from the most damage.
5) Funcom has significantly more debt now than its cash position.
6) Funcom is basically signing a deal with the devil to borrow a mere 10 million dollars more. Recognize that the company is losing about 5 million US per quarter (although admittedly a good chunk of that is depreciation as they had to once again chop off another 3 million in value of The Secret World)