While financially troubled comics publisher CrossGen has not yet announced the second round of financing it claimed to be finalizing a couple of weeks ago, it has announced a round of layoffs and a major corporate restructuring.
Comics industry Web sites Newsarama (www.newsarama.com) and The Pulse (www.comicon.com/pulse) have reported that CrossGen has laid off as many as 25 people from both the editorial and business side. In addition, a number of high-profile CrossGen staff, including CEO Gina Villa and v-p of product development Tony Panaccio have left the company.
At press time, CrossGen had not responded to a request from PW for comment.
CrossGen had been notable for producing many of its comics in its Florida offices using staff artists. Now many of those artists have been switched to freelance status while others remain on staff with reduced salaries. It has been speculated that the restructuring might be a precondition for additional financing. A revised October schedule for CrossGen's comics has been announced, but it doesn't list the company's delayed trade paperback titles.