Gameloft Posts Growth, Shuts Down India Studio, makes 250 redundant

Illgaming Gameloft Gameloft Posts Growth, Shuts Down India Studio, makes 250 redundant

Gameloft, a premier mobile-phone game maker, recently came out with its year-end results, and they’re definitely profitable . Everybody knows that mobile gaming holds a major stake in pushing game revenues to the sky and this sector will continue to rocket, with companies like Gameloft itself reaping the full benefits of the trend. Gameloft posted a 27% revenue growth, with reported sales of €208.3 million, compared to €164.4 million in 2011.

The company owes its growth to the mobile gaming sector (accounting for 56 percent of total sales). New titles like Modern Combat 4: Zero Hour, World at Arms etc., along with others like Ice Age Village and Asphalt 7: Heat were the main sources of revenue. And it is safe to assume that 2013 will also be similar if not better for them, as the tablet and mobile race has only heated up further.

But all was not green and rosy, as Gameloft suddenly shut down its Hyderabad based, India office and shockingly asked all 250 of the employees to sign resignation letters for personal reasons.

According to Gamasutra, the employees were asked to pack up and leave without further delay. The company internet was also shut down. Further on, they were asked to sign two letters before leaving: a form saying they were leaving for personal reasons rather than being laid off (pre-dated from yesterday, January 28th) and an acceptance of resignation from Gameloft dated Tuesday the 29th.

The news obviously comes out as a stunner, but the move by any standard looks more strategic than tragic, especially for a company doing this well. Corporate sector is a rich mess and de-employment of such kind is nothing new.

Source: Gamasutra

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