Reduction of approximately 20% of the total workforce
Atari, Inc. (Nasdaq: ATAR), an interactive entertainment company, today
announced a reorganization of its general and administrative functions.
The
reorganization plan reduces Atari's total workforce by approximately
20%, which includes a reduction of administrative workforce of
approximately 26%. This plan was approved by the Board of Directors on
April 10, 2007 and communication to employees was completed on April
30, 2007. The Company anticipates the workforce reductions to be
completed by July 31, 2007 and will record a restructuring charge
during fiscal 2008 of approximately $0.8 million to $1.1 million.
"We
expect that today's reorganization will continue to reduce Atari's
general and administrative cost," stated David Pierce, President and
Chief Executive Office of Atari, Inc. "These actions, though difficult,
are a significant first step in reorganizing Atari and demonstrate our
commitment to restoring shareholder value."
News was posted/written by
EG Admin, on Wed, 02 May 2007 07:56:21 , and has been read 71 times. It is filled under the following
Tags:
Atari
Inc.
There are no comments attached to this item.
Post a new comment