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Mega Biotech & Electronics Co Ltd to Merge with Subsidiary

Friday, 26 Apr 2013 07:34am EDT

Mega Biotech & Electronics Co Ltd announced that it will merge with its wholly owned subsidiary, a Taiwan-based electronic technology company, with the Company to survive and the subsidiary to be dissolved, effective July 1, 2013.

TOMY CO LTD Announces Result of Early Retirement Program; Expects Extraordinary Losses for Q4 of FY 2013

Monday, 25 Mar 2013 02:15am EDT

TOMY CO LTD announced the result of its early-retirement program, which was offered during the period from February 12, 2013 to March 19, 2013. 138 of its employees took the offer and will retire on March 20, 2013. As a result, the Company expects the extraordinary loss of JPY 1,020 million caused by retirement payment, and also expects the extraordinary loss of JPY 5,870 million for impairment loss on assets of subsidiary, and extraordinary loss of JPY 540 million for retirement payment by subsidiary and others, for the fourth quarter of fiscal year ending March 31, 2013.

Funcom NV Announces Update on Restructuring and Reduction of Personnel

Friday, 25 Jan 2013 01:55am EST

Funcom NV announced that as part of the restructuring it establishes a joint, centralized live team at its studio in Raleigh, North Carolina, whose primary responsibility will be expanding and enhancing the Company’s three live games. The team in Montreal will work on currently unannounced projects for the tablet and mobile platforms, as well as continuing to improve and enhance Funcom’s own Dreamworld technology. The restructuring process includes a reduction in headcount at the Montreal studio among those who have not been relocated to Raleigh to be part of the centralized live team or who are not part of the new team which will be working with mobile, tablet and technology. There has also been a staff reduction at the Raleigh studio in certain departments.

Funcom NV Announces Restructuring of Company

Thursday, 10 Jan 2013 01:55am EST

Funcom NV (Funcom) announced that as part of the ongoing review of strategic options announced on October 22, 2012, Funcom has initiated a process of restructuring the Company around its core products and technology. This includes the consolidation of offices and teams around the world, as well as the streamlining of internal processes. By taking advantage of the Company's technology, the new organization will be better equipped to realize the strategy of building smaller MMO games such as the upcoming 'LEGO Minifigures' game which is currently in development by the team at the Company's Oslo studio. The restructured organization will continue to focus on its existing MMO games; 'Age of Conan', 'Anarchy Online' and 'The Secret World'. Through providing more organizational focus and strengthening the competence of a joint central team that will continue to operate and enhance these games, the Company will work towards increasing their profitability and continue to provide experiences for existing, returning and new players of these online worlds.

TOMY CO LTD to Offer Early Retirement Program

Sunday, 6 Jan 2013 10:00pm EST

TOMY CO LTD announced that it plans to offer an early-retirement program to its employees and its subsidiaries' employees. The early-retirement program, which is offered during the period of February 12, 2013 to March 19, 2013, will include severance pay and outplacement support. The Company expects approximately 150 employees to take up the offer. Those who take up the offer are expected to retire on March 30, 2013.

Funcom NV Updates on Reorganization and Lay offs

Wednesday, 22 Aug 2012 11:53am EDT

Funcom NV announced that as mentioned in the stock notice of August 10, 2012, the Company has initiated a process to reduce operational costs following the launch of its most recent massively multiplayer online game, The Secret World. The process includes several initiatives, such as layoffs and temporary layoffs of some employees in Montreal, Durham, Oslo and Beijing. Some of these initiatives are part of normal procedure following the launch of a project, such as adjustments to the customer service staffing based on the number of customers in the game, as well as adjustments to the production team as the project goes into a post-launch phase following years of development. Many of those affected on the customer service team are on temporary contracts, which is common for a live service such as The Secret World, where customer service demand shifts based on the game's population levels. Around half of the Company's personnel have been affected, with some departments being more affected than others. To make sure Funcom NV is in the position to realize its plans for both the existing games as well as future projects, the Company is focusing on retaining as many as possible on the production teams.

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