Mighty Kingdom Implements Restructuring Efforts

Mighty Kingdom, an Australian game development studio, has announced a restructuring plan that includes reducing its full-time workforce across development and administrative teams as part of broader cost-cutting initiatives. According to reports from Gameshub, the exact number of positions to be eliminated has not been disclosed, but the studio expects these cuts to have a minimal impact on its project milestones. Efforts to enhance communication and accountability within the studio have been positively received. "Following a thorough internal review, we are implementing cost-saving measures that mark a significant step towards achieving cash flow break-even and future profitability," stated Philip Mayes, CEO and Managing Director of Mighty Kingdom. This development comes after the studio reported a net loss of $10.9 million against revenues of $4.9 million for the fiscal year ending June 30. The company is also shifting its focus towards work-for-hire projects to pursue more stable revenue streams.