Acclaim President Resigns, Company Announces Imminent Layoffs

Achieving and maintaining positive cash flow

Review its product release schedule and revise it to better meet market demand

Meet the company's projected profitability. To help curb operating expenses, which it wants to slice by 35% annually, Acclaim plans to set its research and development expenditures (product development) at 21% of the company's annual net revenue. To hit that mark will require layoffs "throughout all levels of management in its global organization," the company said. That will amount to a 35% decrease in its administrative headcount.