After a series of financial disappointments,Atari has annouced a plan to cut its workforce by 20 percent and try to offload five of its development studios.A hard year for Atari.

"Today‘s decisive action will provide us with the flexibility necessary in a changing business environment," he said. "Adjusting our cost structure is a significant first step and demonstrates our commitment to restoring shareholder value."

Bonnell has said that the 250 Atari workers that the company employs in the U.S. is "too many." According to MCV‘s article earlier today, no job cuts would be made in Europe.

Speaking to UK trade paper MCV, Atari CEO Bruno Bonnell said, "We have decided that we should refocus our creativity efforts on external studios rather than internal development. We will be looking to sell our studios, but that does not mean we‘re immediately putting a ‘for sale‘ sign on them. They still have important projects to finish for us."

The studios include England-based Reflections, Melbourne House in Australia, Dallas-based Paradigm, Shiny Studios in California and France-based Eden.

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