While the Internet offers vast potential for growth even in this down economy, it doesn't mean that net companies are immune to downturns - case and point, Sulake. Paid Content [thanks Gamasutra] is reporting that the company behind Habbo Hotel is looking to lay off 40 employees.
The Finnish company has roughly 200 employees in its Helsinki office, and 300 employees worldwide. Habbo Hotel has been established in 13 different countries and currently has over 12 million users worldwide. Despite revenues over 50 million Euros ($73 million) last year, Sulake only posted a profit of 1 million euros ($1.46 million).
1 Comments
October 7, 2009
1.5M in net profit from 73M in revenue is way too tight of a margin for that type of business. No wonder they're trimming.