Thursday, March 30th, was a difficult day in the MovieStarPlanet history.
CEO Claus Lykke Jensen presented a restructuring plan to ensure the company’s future financial stability to all employees at a town hall meeting.
Claus Lykke Jensen, CEO, says, “We are saddened to announce that our company has not been able to secure an investment despite our best efforts. Due to the challenging economic climate, we have been unable to convince investors of the huge potential of MovieStarPlanet in its current state”.
As a result, MovieStarPlanet will begin implementing a restructuring plan to ensure the company’s financial stability. Many actions have already been taken to lower costs and streamline operations, but unfortunately, more is needed, and it is, therefore, necessary to reduce the workforce.
The employees have always been the heart of MovieStarPlanet, and it is saddening that we must let some of them go. There are so many talented people here, and we appreciate all the hard work and dedication everyone has put into their work at MovieStarPlanet.