Gamania cuts loose “about 10%” of total workforce

Gamania, or more famously known as Beanfun (its MMO portal), announced last week that around 150 employees from its worldwide offices will be laid off. Affected offices include the headquarters in Taiwan, in-house development studios and overseas subsidiaries.

This is part of an ongoing company restructuring exercise which has seen an unsatisfactory overall financial performance and strong competition over the past 2 years. Other than current games not meeting expectations, several of the company’s “blockbuster” titles are still in development.
In the latest news from earlier today, it was reported that Gamania is getting its employees to sign an agreement for 2012’s year-end bonus payout to be set at 1 month (total 13 months payout). This was confirmed by Gamania, with analyst speculating that the decisions made so far involved Nexon, the company’s biggest shareholder.