From bad to worse for Tomb Raider publisher
Shares in troubled SCi Entertainment, the publisher behind a number of popular franchises, including Tomb Raider, Thief and Hitman, have dropped by 24% this morning, following news that it will be canceling work on 14 projects and will be cutting its workforce by 25%.In January the entire SCi board of directors quit their positions with reports suggesting that shareholders had forced them out after they'd become disgruntled at them for not securing a sale of the company.
As the firm continues with its re-structuring plan, the new job cuts will bring the current staff employed by the company to approximately 800.
Phil Rogers, the chief executive, said: "SCi is in need of immediate change. Following our business review over the last six weeks, we are initiating a clear action plan based on three fundamental strands of activity: a radical change in our structure to a studio-led business, a top-to-bottom programme of product improvement and efficiency and a considerable cost reduction plan."
