CME Power Struggle Continues, Tim Jenson Confirms Layoffs
The waters over at Cheyenne Mountain Entertainment (CME) are still pretty turbulent. After the company's February bankruptcy filing by Gary Whiting, company board members moved to have him dismissed, but Whiting's dispute of the dismissal now has confusion to who exactly is in charge at CME. Recently, The Examiner got the chance to speak with Tim Jenson, President and CEO of CME. Jenson explained the dilemma with the bankruptcy filing and Whiting's part in it. As it stands at the moment, CME is still in bankruptcy, at least until the courts decide who is in charge.
There have also been rumors that CME had to lay off in excess of 70% of its staff. The Examiner was able to confirm through Tim Jenson that there have in fact been layoffs at CME, but the company is currently seeking a means to continue development and operation of its newly launched game, Stargate: Resistance.
Unfortunately, with the filing of the bankruptcy, CME was not able to raise any funding and the sales of the game were negatively impacted. Without adequate cash flow, CME is unable to meet its financial obligation or pay its employees. CME is not able to have its employees continue working without pay so many of them were laid off. CME is currently seeking ways to keep the Stargate Resistance game operating and growing including partnering with other companies in a joint venture or outsourcing type arrangement.
You can read the full interview with Tim Jenson here.
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