Namco Bandai posts huge loss, lays off 630 staffers

Namco Bandai had a good 2008. For the nine months ending December 31, 2008, the company posted profits of US$ 99.5 million. Unfortunately for the company, that got completely reversed this year.

Namco Bandai had a good 2008. For the nine months ending December 31, 2008, the company posted profits of US$ 99.5 million. Unfortunately for the company, that got completely reversed this year.

For the nine months ending December 2009, Namco Bandai posted a loss of more than US$ 129 million. Subsequently, they’ve put a “group restart plan” into effect — which is apparently just a fancy way of saying “layoffs” — that resulted in around 630 staffers losing their jobs.

The company revealed that most of their games released during the current fiscal period fell below their sales projections. The only one mentioned to have met its forecast was Tekken 6.

Via [Edge]