sonycowboy
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Tue Jan 11, 2005 03:37 AM ET
PARIS, Jan 11 (Reuters) - The loss-making games unit of France's media group Vivendi Universal (EAUG.PA: Quote, Profile, Research) is to shed 89 staff in France, six months after it cut 29 French jobs and 350 in North America, Les Echos newspaper reported on Tuesday.
The paper quoted a lawyer for the Vivendi Universal Games (VUG) works council as saying that as part of the plan, management had already transferred 83 people into its Coktel studio which was expected to be sold.
The paper said VUG had created some jobs in 2004 for the launch of video game "World of Warcraft". VUG incurred a 185 million-euro ($242.5 million) operating loss in the first nine months of 2004, against a loss of 110 million euros in the same period in 2003.
Vivendi has been cited as a potential white knight for French video game maker Ubisoft (UBIP.PA: Quote, Profile, Research) to help it fight a possible takeover bid from larger U.S. rival Electronic Arts (ERTS.O: Quote, Profile, Research) . It denied reports last week that it had held takeover talks with Ubisoft, however.
PARIS, Jan 11 (Reuters) - The loss-making games unit of France's media group Vivendi Universal (EAUG.PA: Quote, Profile, Research) is to shed 89 staff in France, six months after it cut 29 French jobs and 350 in North America, Les Echos newspaper reported on Tuesday.
The paper quoted a lawyer for the Vivendi Universal Games (VUG) works council as saying that as part of the plan, management had already transferred 83 people into its Coktel studio which was expected to be sold.
The paper said VUG had created some jobs in 2004 for the launch of video game "World of Warcraft". VUG incurred a 185 million-euro ($242.5 million) operating loss in the first nine months of 2004, against a loss of 110 million euros in the same period in 2003.
Vivendi has been cited as a potential white knight for French video game maker Ubisoft (UBIP.PA: Quote, Profile, Research) to help it fight a possible takeover bid from larger U.S. rival Electronic Arts (ERTS.O: Quote, Profile, Research) . It denied reports last week that it had held takeover talks with Ubisoft, however.