NetDragon to Downsize, Shift to Education Business

Cnsoftnews.com, 12/05/13

According to internal sources at Fuzhou-based online game developer and operator NetDragon Websoft (0777.HK), the company will undergo significant downsizing before the end of the year, cutting its workforce by as much as 30%, or about 1,000 employees. NetDragon Chairman Liu Dejian has reportedly confirmed in an internal memo that the company will indeed undergo downsizing.

NetDragon employees have indicated that the company plans to shrink its online gaming business, dropping most current titles with the exception of 3D multiplayer RPG Eudemons Online and a few other profitable games. Moving forward, the company will shift its focus to education-related projects.

Editor's Note: Liu has confirmed the rumor in a public release. For more information on this topic, please see "NetDragon to Enter Online Education Business," MD 10/30/13 issue.

Keywords: strategy Eudemons NetDragon online gaming Liu Dejian Internet online education 0777.HK

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