Namco Bandai To Cut Over 600 Jobs

By March 2010, Japan's Namco Bandai estimated that net income was going to be ¥8.5 billion ($93 million) in the black. That figure has changed from profit to loss — a big loss at that.

The company now estimates that it will be posting ¥31 billion ($342 million) loss this March.

To counteract these losses, Namco Bandai has announced it will undergo a restructuring. By the end of the 2010 fiscal year, Namco Bandai is planning to reduce its 7,000 person workforce by 630 staffers.

The decline in earnings is blamed on poor performance of key titles.

[Pic]