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SCi plans radical restructuring with mass layoffs and project cancellations

Save is reporting that Eidos parent company SCi plans to radically restructure its business, canceling 14 active projects, as well as laying off 25% of its work force.

The restructuring is the result of a six-week business review, following the company's stock plummet and subsequent resignation of several key board members. The 14 projects were canceled after the board evaluated them as being of a low quality, or being unable to generate a satisfactory return on investment. After the restructuring, SCi will operate with a maximum of 800 employees, and will focus on publishing core franchises like Tomb Raider, Deux Ex, and Hitman.

With these sizable shifts in business strategy, along with staff relocation, SCi hopes to cut £14 million GBP in annual operating costs by April 2008.

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