Glu Aims To Cut Expenses By 19 Percent Through Layoffs, Cutting CEO’s Pay

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:

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