Mad Catz Lays Off 37% of Staff
Today, Mad Catz announced that they would be laying off 37% of their staff. While yesterday saw the resignation of several top executives from the company including the president and CEO, Darren Richardson, senior vice president of business affairs Whitney Peterson, and chairman Thomas Brown. Gamasutra is reporting that the layoffs will help the company save$5 million dollars. Even though sales of specialty controllers were up over last year, it seems that Rock Band peripherals didn’t move as anticipated. With retailer promotions (“sales”) and a glut of unsold inventory creating added problems.