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May 2, 1997updated 05 Sep 2016 1:08pm

ACCLAIM ENTERTAINMENT TO CUT COSTS, WORKFORCE

By CBR Staff Writer

Financially challenged games and entertainment software publisher Acclaim Entertainment Inc says it has implemented a program designed to save the company roughly $40m a year by reducing operating budgets. That means that 115 jobs at its Glen Cove, New York headquarters will be eliminated in a move toward consolidation of administrative and operational functions. Acclaim recently reported a second-quarter loss of $16.8m and mid-year losses of $35.8m (CI No 3,138). Acclaim hasn’t had a profitable quarter since the first quarter of 1996, a year in which it lost a whopping $221m.

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