Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 30 August 2016, German social games developer Wooga confirmed to cut 40 out of 300 jobs at its site in Berlin. The company announced an internal restructuring process due to the difficult economic situation in the games scene. Moreover the management named projects which were falling short of expectations like the cooperation with Apple Watch.
The start-up company was founded in 2009 and the latest available business figures from 2014 showed an annual profit of €9.4 million after tax. During the past weeks several game developers announced to reduce their workforce due to a difficult business situation including Goodgame Studio (Goodgame Studio, 2016) .
Eurofound (2016), Wooga, Internal restructuring in Germany, factsheet number 88418, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88418.