San Mateo, Calif. -- Glu Mobile, the San Mateo-based mobile games publisher, said on Tuesday that it will cut an unspecified number of jobs in a move to trim its annual operating expenses by $13 million. "These decisions are difficult but necessary given the increasing economic headwinds facing our industry and the softening in consumer spending," said Greg Ballard, the company's CEO. Ballard said that the cuts are aimed at improving Glu's financial performance in the short term, as well as allowing it to continue investing in games for high-end handsets and new platforms like the as iPhone, Android and N-Gage. "In addition, I have asked the Board to reduce my salary by 25% as part of our cost reduction efforts until the Company is demonstrating consistent progress toward our long-term goals," said Ballard.
http://www.glu.com
http://biz.yahoo.com/bw/081202/20081202006468.html?.v=1
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