THQ... Next Crytek?

[AlexM]

I think they are saying they we're delinquent with their payments for 6 months but the single longest streak without payment was 2 months. At least that's what I hope they are saying. I can't imagine staying with a company for 6 months without pay like that. I did that once before (2 months) and was almost homeless as a result. 

Edited December 14, 2016 by AlexM

[PaulH]

Having been through this situation at Crytek UK it's really sad to see it happening again, but also not really surprising. Everything I've read about this latest incident seems to be exactly how it was for us, right down to the constant lies and false promises from the Yerlis. I feel bad for the employees, but kind of hope this is the end of Crytek, or at least the version of Crytek with those guys at the helm. 

[blackdog]

Yeah reading that I was wondering how can someone live for 6 months without pay. Also who would stick around, I would leave before that with a same day notice I think.

Maybe it means they are not getting a full pay for 6 months, but something to pay the bills?

well said about the sins of investing in the wrong markets, although mobile can be profitable when you have these budgets to invest. Maybe they would have been better off doing investments the way Rovio has done, publishing small studios and others indies. As for VR I was surprised to see them investing so much (the games seem incredibly polished from the videos) since there's no install base to get a return.

[Sigma]

Hey gang,

This dropped in the news today: http://www.gamesindustry.biz/articles/2016-12-20-crytek-dropping-multiple-studios-in-wake-of-pay-troubles.

A statement reveals the company plans to "refocus on its core strengths" by concentrating on development in its Frankfurt headquarters and Kiev studio. All others branches - including studios in Budapest, Sofia, Seoul, Shanghai and Istanbul - "will not remain within Crytek".

Edited December 20, 2016 by Sigma

[blackdog]

https://www.tweaktown.com/news/61045/crytek-ceo-steps-down-brothers-now-ceos/index.html

Cevat steps down from CEO position as the company has “fortified” its position in the last two years.

[FMPONE]

3 hours ago, blackdog said:

https://www.tweaktown.com/news/61045/crytek-ceo-steps-down-brothers-now-ceos/index.html

Cevat steps down from CEO position as the company has “fortified” its position in the last two years.

Quote

With the company in a strong position, now is the ideal time to recognize the existing leadership's excellent achievements over these past two years and formally transition executive leadership to Avni and Faruk.

I have been honored to serve as CEO of the company I founded with my brothers almost 20 years ago and have seen the team accomplish breakthrough things in that time. I look forward to continue helping Crytek as a major shareholder, and I am very excited to see what tomorrow brings. I have every confidence that the company will continue to shine under the guidance of Avni, Faruk, and the rest of the leadership team.

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