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Title: Acclaim closes shop; screws employees Post by: SirBruce on August 31, 2004, 12:57:01 PM http://pc.ign.com/articles/543/543191p1.html
Quote In mid-August, however, the first major warnings appeared. Acclaim missed its regular payroll on August 15, and employees were paid three days later (August 18). "That was the first time they ever missed payrole," said a former Acclaim game analyst. "And the paychecks were three days late. We were in shock. When we inquired about it, they didn't want to answer questions about whether we would get paid the next week. They said when we get to that bridge, we'll cross it. They could've handled it much better." In the US, Acclaim paid its employees for the first two weeks of August, but failed to pay for the remainer of the month. UK employees, apparently, are paid monthly; they were not paid for the entirety of August. Acclaim is paying employee benefits until August's end. "We worked our asses off and we worked long hours and a lot of people have mortgages, they have bills, and they left us hanging. I mean, it was so quick, we were hit so quickly, we didn't really have time to react. It was a stressful day Friday, and they were really closed-knit about all the details." The company was in so much trouble they were trying to secure a $65 million loan to continue operating. Sounds like they've been bleeding cash for quite a while, and might have survived if they had restructured and downsized a few years back. Bruce Title: Acclaim closes shop; screws employees Post by: Dren on August 31, 2004, 01:06:58 PM There is no excuse for that to happen. That is pure mismanagement at its worst. The risk had to have been recognized a long time ago, but was obviously ignored in hopes of pulling out some miracle in the end.
The three day delay should have at least been the last straw and they should have pulled the plug then so they didn't waste their employees' time working for nothing when they could have been busy looking for jobs. Title: Re: Acclaim closes shop; screws employees Post by: Big Gulp on August 31, 2004, 01:32:40 PM Doh! And here I am with a son named Turok and these sons of bitches go out of business.
How, I ask you, how will the games industry get by without this titan of taste and decorum? Who will take their place with publicity stunts for shitty games? I guess we'll always have Serek Dmart to kick around. Title: Acclaim closes shop; screws employees Post by: SirBruce on August 31, 2004, 01:36:25 PM Luckily, the kid got a savings bond and doesn't have to be called Turok anymore, so he's protected. :)
Bruce Title: Acclaim closes shop; screws employees Post by: MahrinSkel on August 31, 2004, 02:15:51 PM Unfortunately, at the first sign or rumor of financial trouble in a company, the odds of getting new investment go into the toilet. Which is why the current fad of spinning things out, pretending everything is fine to the point of bankruptcy has set in.
--Dave Title: Acclaim closes shop; screws employees Post by: HaemishM on August 31, 2004, 02:41:10 PM Fucking clueless idiots. I've worked at a company where we got the "when will we get paid" Russian Roulette routine and it sucks. That was due to intentionally criminial mismanagement, but it could have just as easily been incompetence. This sounds like Dot Bomb flameout stupidity. Hopefully the culprit executives will never be able to get a job in the games industry again. The knowledge that they'll starve might help the people who got shitcanned feel better about eating Ramens.
Bastards. Title: Acclaim closes shop; screws employees Post by: SirBruce on August 31, 2004, 03:36:00 PM Playnet missed payroll once by 1 day early on during the bankruptcy, but we're in a much better financial position now.
It doesn't look like Acclaim is going to come back; they're just closing up shop. Bruce Title: Acclaim closes shop; screws employees Post by: schild on August 31, 2004, 03:53:13 PM I don't think anyone has looked forward to an Acclaim title since 1987 anyway.
Title: Acclaim closes shop; screws employees Post by: Krakrok on August 31, 2004, 05:20:36 PM We missed payroll once because we forgot what day it was, doh.
Title: Re: Acclaim closes shop; screws employees Post by: Rodent on August 31, 2004, 05:31:20 PM Quote from: Big Gulp Doh! And here I am with a son named Turok and these sons of bitches go out of business. Not to worry, EA will pick up the licence and your son will die a million emotional deaths before the brandname dies. Title: Re: Acclaim closes shop; screws employees Post by: Delf on August 31, 2004, 11:33:50 PM Quote "We worked our asses off and we worked long hours and a lot of people have mortgages, they have bills, and they left us hanging. I mean, it was so quick, we were hit so quickly, we didn't really have time to react. It was a stressful day Friday, and they were really closed-knit about all the details." Been there, done that, more than once. And it sucks bigtime. But ferchrissakes, it's 2004, not 2000. Anyone who works in software and isn't socking away every spare penny for the inevitable apocalypse is living in a fool's paradise. Title: Acclaim closes shop; screws employees Post by: HaemishM on September 03, 2004, 11:34:44 AM I just had to link Penny Arcade's response.
(http://www.penny-arcade.com/images/2004/20040903l.jpg) |