MadCatz chopping a 3rd of employees after 'Rock Band four' flop
Peripheral maker Mad Catz has posted yet one more disappointing monetary report, sparking government resignations and main layoffs. The submitting is the primary full quarter since Rock Band four was launched final yr, and the sport helped gross sales improve to $sixty five million, 114 % larger than the yr earlier than.
Mad Catz had banked on Rock Band four being an enormous success, although, and regardless of a broadly constructive response from critics, gross sales are decrease than initially forecast. It anticipated income to extend considerably because of the video games’ launch (albeit with decrease margins), however as an alternative they dropped from $1.36 million to $1.22 million yr-over-yr.
The night time earlier than the earnings launch was due, three key executives — the CEO, chairman and vice chairman of enterprise affairs — all resigned. The corporate will now scale back its complete workforce by 37 %.