NetEnt will cut positions in its continuing reorganization and streamlining at its Stockholm head office, the company has announced.
NetEnt will cut 55 full-time positions this month as the company follows on a restructure to reduce staff costs and increase games production.
The 55 positions in question are mainly at the corporate support level and are likely to reduce the cost of around £2.2 million.
These non-recurring costs will be booked in the fourth quarter of 2018. The staff reduction is likely to optimize NetEnt’s operations, increase profitability and competitiveness since this move will lead to a reallocation of resources to increase game production.
Therese Hillman, Group CEO of NetEnt, comments: “By decentralizing our operations we take another step towards a new NetEnt, where customers and players are in focus”
“The new organization will have clearer responsibilities and more emphasis on value-creating initiatives. We are pleased to see the performance of our new game releases so far in the fourth quarter as we continue to diversify our game portfolio. Going forward, we increase the pace of output and expect to release 30 – 35 new games in 2019.”
A Virtual Reality project is in the works and the launch is expected further in 2019.
The company explained that £440,000 of the loss relate to a “write-down of intangible assets regarding a development project in the area of virtual reality”.
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