SCi's £81.4m loss sparks restructure

25 per cent of jobs to go, 14 projects cancelled, and production services moved to Montreal - all part of new 'studio-led' model

Newly installed SCi CEO Phil Rogers has this morning revealed the result of his company business review - announcing that he plans to restructure the company around a new 'studio-led' business model, which means a reduction in workforce and cancellation of 14 projects.

SCi, which owns publishing label Eidos and a raft of studios, said it lost £81.4m in the six months up to December 31st - a big hike over the comparable loss of £17.9m in the same period a year previously.

To curtail further losses, Rogers said: "SCi is in need of immediate change. Following our business review over the last six weeks, we are initiating a clear action plan based on three fundamental strands of activity: a radical change in our structure to a studio-led business, a top to bottom programme of product improvement and efficiency and a considerable cost reduction plan.

"To get SCi on track we have to act rapidly and effect change quickly. We must allow the world-class people that we have within the Group to focus on strong, profitable titles which will create the value our shareholders deserve. I am confident our staff share this vision and excitement for the future, and determination to build a working environment where our innovation and creativity can be commercially realised."

The firm will now set about a 'fundamental change in business structure' which involves decentralising control of its development studios, creating a new label called Eidos PLAY which merges its casual and new media resources, and taking a more flexible and efficient approach to distribution.