Casual games firm Oberon Media lays off 100 staff
COO of company leaves to work on new venture
Multi-platform casual game developer Oberon Media has laid off 100 employees and COO Don Ryan has departed the company, according to reports.
Ryan has apparently confirmed the report as well as his exit from Oberon in order to start up his own business in New York.
According to a former employee of the firm talking to Business Insider, staff from all areas of the company have been affected.
"Today and yesterday they laid off about 100 folks across the globe. Mostly in NYC where about 15-20 per cent of the workforce. Not just the little guys but the big guys, several VPs, every one in ad sales except for like 1 person," they revealed.
"Don Ryan, the COO and the most respected executive amongst employees and, some would say, in casual gaming, quit."
Infinity I-China Fund has invested USD 20 million in Oberon, and its other investors include Goldman Sachs, Morgan Stanley, Oak Investment Partners and Lehman Brothers Venture Capital.
Ryan was promoted to COO in June 2008 and this year the company announced its GameSaver online subscription programme had hit half a million members within one year.
Oberon, which is also the parent company of publisher I-Play, was founded in 2003 and has offices in New York, Seattle, London, Tel Aviv, Singapore, Seoul and Tokyo.