Tomb Raider firm cuts jobs for survival

February 29th, 2008
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Biggest U.S. Egg Producer Sees Profit Rise Along With Price Of Eggs »

If you bought a carton of eggs recently, you may have been bowled over by sticker shock. The consumer price index for eggs is up 34.7% from a year ago, according to the Bureau of Labor Statistics. In January, a dozen Grade A large eggs cost $2.18, up from $1.55 in 2007. The average retail price of eggs in 2007 climbed 28.3% to $1.68 a dozen, from $1.31 in 2006. All food prices are up, thanks to higher commodity prices and increased energy costs. But eggs rose more than any other food...

Having already fired the chief executive after seeing takeover talks collapse, SCi is cutting costs by 14m.

It is cancelling 14 projects the board thinks are either unlikely to make money or ‘are not of appropriate quality’.

The production arm is moving to Montreal from London as part of the restructuring.

The shares have sunk lately, leaving SCi valued at just 45m.

New boss Phil Rogers said the moves are a ‘clear action plan’ that will allow the ‘world-class people’ within the group to thrive.

SCi admitted last month it needed 30m in cash to stay in business.

Today it upped that to between 45m and 55m, on top of a 20m overdraft facility. Rogers hopes to raise the cash by issuing new equity, but indicated that he is open to offers for the business.

Other stories:
Lara Croft firm SCi’s boss fired in clearout
SCi demands cut in cost of PS3 consoles
300m price on Lara’s head for SCi raider
Dealers find SCi hard to play
PlayStation double hit costs SCi 18m
Lara effect gets bonus points for SCi
SCi on road to Empire buy
SCi builds on success with Lego game
Lara Croft profit mission for SCi

« Zoo launches campaign to save endangered frogs

The Toronto Zoo chose leap day to raise awareness about an unprecedented crisis threatening amphibians around the world. Cute gimmicks aside, zoo workers and local politicians gathered in front of frogs, toads and reporters today to speak about the global amphibian crisis and what they are trying to do about it. This is an extinction crisis that is unprecedented in the history of the world, said Bill Peters, national director of the Canadian Association of Zoos and Aquariums. Frogs and their...

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