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Namco Bandai suffers losses, cuts staff

Justin McElroy

It's a tough economic time the world over, but Namco Bandai appears to really be taking it on the Heihachin according to a report from Edge. During the nine months ending on Dec. 31, 2009, the company posted a $129.05 million loss, compared to a $99.5 million profit during the same period in 2008.

Perhaps it should come as no surprise that the company has also announced layoffs, or rather a "group restart plan" that translates to 650 staffers (about 10 percent of the company) losing their jobs. We hope Namco finds a way back to profitability, but when some of its biggest titles for 2010 include a new entry in a forgettable series (thus far), a troubled relaunch of a fan favorite and a promising game that disappeared almost as soon as it was announced, we're not convinced the recovery process will be a quick one.

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