November 13th, 2008 by Arjan Olsder Posted in Companies & M&A | No Comments »
In a mission to be profitable in the second quarter of 2009, Oberon Media has internally announced to cut costs. This means no salary increases, less travelling and no new hires for now.
This news reached the daylight via MoCoNews, who managed to get their hands on the internal memo from Oberon CEO Tomer Ben-Kiki.
"While Oberon Media is still, and will continue to be, a strong leader in the casual gaming community, we are experiencing the same pressures as every other business in the marketplace."
This news follows restructuring and additional funding of the company by I-China.
"We need to make sure that we optimize both our short- and long-term strategies to ensure that we are well positioned currently and over time. As a result, after a couple of years of significant investments we made to grow our business, we will now be focusing on achieving sustained profitability no later than Q2 of 2009."
Read the full story here.
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