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EVE Online: CCP Closes San Francisco Office, Fires Two Execs
SBFord
Former Associate EditorMember LegendaryPosts: 33,129
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.
Comments
Does it?
It thought their office at SF was working on EVE Online too.
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.
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.
It is who you know, not what you know. It is why you get so many incompetent arsehats in positions of power.
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.
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.
ccp should stop spending EVE earning money on failed project or any other project,they can work only at one game not any other.
I'll go reactivate a 4th sub this weekend to help them out.
"True friends stab you in the front." | Oscar Wilde
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
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
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?
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.
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
"Do something right, no one remembers.
Do something wrong, no one forgets"
-from No One Remembers by In Strict Confidence
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
"Do something right, no one remembers.
Do something wrong, no one forgets"
-from No One Remembers by In Strict Confidence
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.
CCP CEOs really did have delusions of grandeur.
These days you can lose multi millions and get a nice bonus for it.
"Be water my friend" - Bruce Lee
Of course it has nothing to do with EVE, however, will it affect EVE? Yes.
Amen, agreed 100%. Gankers are the doom of any game.
want 7 free days of playing? Try this
http://www.swtor.com/r/ZptVnY
"We all do the best we can based on life experience, point of view, and our ability to believe in ourselves." - Naropa "We don't see things as they are, we see them as we are." SR Covey
Correct, it doesn't.
It has everything to do with Dust 514 flop, money that went straight into the drain, as I predicted in one of my blog posts before Dust 514 was even launched.
With that game they basically compromised CCP financial stability.