Atari now cancelling projects

Atari has cancelled a number of projects as part of its bid to recover from two years of sustained net losses.

The company stated that to improve the cash position” it will restructure the business and focus on what it considered more cost-effective” mass-market and online games.

As such, the Company has cancelled projects which do not meet higher return on investment criteria and require significant working capital investments,” read the company statement.

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It’s been a bad morning for Atari. Parent company Infogrames this morning posted a loss of €226.1 million for FY 2008-2009, and Phil Harrison, one of the brains behind the PlayStation brand, has left the role of Atari president.