Shanda layoffs affect Beijing operation

By Staff, GameSpot
Posted Jan 13, 2006 2:43 pm PT

Reports say Chinese game developer and operator will shutter Beijing office, relocating some, laying off others.

Hong Kong-based analyst firm Pacific Epoch is reporting that numerous local media outlets have stated that one of China's biggest operators of online games will soon close down its Beijing office. In the process, 250-300 staffers will be let go. The remaining staff, who operate Shanda's Web portal poptang.com and its music-related businesses, will be offered jobs in Shanghai, where Shanda's headquarters are located. Shanda, which is traded on the NASDAQ stock exchange, was named one of "Five Stocks that Tanked" by financial Web site The Motley Fool in December. The stock lost 64 percent of its value over the course of 2005, according to TMF, losing share to upstart the9.com (which operates World of Warcraft in China) and NetEase, another giant online game operator in China.

6 Comments

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Drudaddy
Posted Jan 13, 2006 8:55 pm PT

I really can care less only if this affects sony
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zhuojloh
Posted Jan 13, 2006 5:25 pm PT

sorry more jobs for india actually
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anthony_basic
Posted Jan 13, 2006 3:52 pm PT

lol Who gives a rats a ss?
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N0tYrBeezin
Posted Jan 13, 2006 3:45 pm PT

What has that got to do with jobs in america?
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snyper16
Posted Jan 13, 2006 3:14 pm PT

Hooray!! More jobs for Americans!!
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Sgtwizard21
Posted Jan 13, 2006 2:44 pm PT

oh no! Shanda made incredible Crisis!
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