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In a press release today, Atari president and CEO David Pierce stated that Atari was undergoing another structural reorganization to reduce the company's general and administrative costs. The company is now eyeing an approximately 20% decrease in staff, which includes a 26% reduction in administrative employees.
Approved by the company's Board of Directors back in April 10, 2007, the plan is expected to be completed by the end of July. The company's entire staff have already been notified at the end of April, although there are no announcements of how many have already left Atari following the announcement.
"These actions, though difficult, are a significant first step in reorganizing Atari and demonstrate our commitment to restoring shareholder value," said Pierce. The restructuring is expected to charge an estimated US$ 0.8 to US$ 1.1 million during fiscal year of 2008.
What this means for their "PlayStation Home beater" project, we cannot tell. Things just aren't looking up for ol' Atari without the legendary Nolan Bushnell.
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