Tuesday February 09, 2016

Mad Catz Laying Off 37% Of Staff

I guess now we know why the CEO, chairman and general counsel of Mad Catz all jumped ship yesterday. It sounds like it might have been a "quit before you are fired" situation. eek!

At this time last year, Mad Catz reported $809,000 in losses. That number is now $4.36 million. The company attributes the shortfalls to Rock Band 4 sell-through, which was lower than forecast. This has led to both softer than anticipated revenue and higher than expected inventory carrying costs.

Ongoing Discussion