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San Mateo, Calif.-based Glu Mobile (NSDQ: GLUU) said it’s laying off an undisclosed number of employees with the hope of cutting expenses by…

imageSan Mateo, Calif.-based Glu Mobile (NSDQ: GLUU) said it’s laying off an undisclosed number of employees with the hope of cutting expenses by about $13 million, or 19 percent compared to Q2 2008, according to a SEC filing. In addition, Glu’s CEO Greg Ballard is asking the board to reduce his salary by 25 percent, a move that sounds eerily like what is happening in the auto industry. The pay cut would reduce Ballard’s $375,000 annual salary by $93,750, according to the company. Ballard:

  1. There is no way Glu can recover, Ballard must be a member of Opus Dei.

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  2. This is what happens to all companies just before Chapter 11.

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  3. "…Greg Ballard is asking the board to reduce his salary by 25 percent…"

    A CEO voluntarily taking a pay cut based on poor company performance…what a concept.

    Ryan Wuerch – Please take note of this.

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  4. Ballard could take a 100% pay cut and he'd still be grossly overpaid. He's the one and only reason that Glu finds itself sliding inexorably into bankruptcy.

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