January 10, 2017 / 10:16 PM / a year ago

BRIEF-Glu mobile cuts about 107 positions

Jan 11 (Reuters) - Glu Mobile Inc

* Glu Mobile -elimination of approximately 107 positions

* Committed to a restructuring plan consisting of discontinuation of all operations at Glu’s Bellevue, Washington studio

* Glu Mobile - expects to incur pre-tax charges of about $3.2 million to $3.5 million related to restructuring plan if contingent portion of plan is not triggered

* Glu Mobile Inc- glu expects to recognize substantially all of restructuring-related costs during q1 of 2017

* Glu Mobile-expects overall headcount,research development expenses will be at about same level at end of 2017 as was before implementation of restructuring plan

* Glu Mobile - will immediately begin transitioning game development, live operations for racing rivals title from co’s california studio to carbonated inc

* Glu Mobile - intends to add headcount in existing San Francisco Bay Area And Hyderabad, India locations to support its titles and develop additional titles

* Glu Mobile - expects to incur pre-tax charges related to restructuring plan about $4.9 million to $5.4 million if contingent portion of plan is triggered

* Glu Mobile says it has agreed to provide carbonated with development funding and a percentage of profits generated by racing rivals title to extent that carbonated is able to increase net revenues from the title

* Glu Mobile - restructuring plan consists potential elimination of about additional 33 positions, discontinuation of remaining operations at long beach studio

* Glu Mobile - development funding is fully recoupable by glu, along with user acquisition, hosting and certain costs, before glu is obligated to make any profit sharing payments to carbonated

* Glu Mobile-if contingent portion of plan is triggered, expects to recognize restructuring-related costs attributable to contingent portion in q2 2017 Source text for Eikon: Further company coverage:

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