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 Layoffs beat down NCsoft profits
Layoffs beat down NCsoft profits
August 8, 2012 | By Mike Rose

August 8, 2012 | By Mike Rose
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More: Console/PC, Business/Marketing, Korea



Newsbrief: South Korean publisher NCsoft has posted its first losses since 2006, due to hefty one-off labor costs that came as a result of the company's restructing efforts during the quarter.

The company's labor costs surged by 27 percent quarter-over-quarter thanks to layoffs as it was left to pay huge severance packages. NCsoft also reported weak in-game item sales for a number of its titles, including 2009 MMORPG Aion.

For the quarter ended June 30, 2012, NCsoft posted revenues of 146.8 billion South Korean won ($129.8 million), down 12 percent compared to 166.8 billion South Korean won ($147.5 million) year-over-year, and losses of 7.3 billion South Korean won ($6.4 million), compared to profits of 41.4 billion South Korean won ($36.6 million) year-over-year.


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