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K.V. Kurmanath

Hyderabad, Nov. 7

DQ Entertainment International, a Hyderabad-based animation and gaming content company, has said it is on the cost-cutting mode.

“We are quite cautious as the next six-seven months are defining for the industry. We are safeguarding liquidity,” Mr Tapaas Chakravarti, Chairman and Chief Executive Officer, told Business Line, on the sidelines of Nasscom’s Animation and Gaming India 2008 conference here.

“We have begun renegotiating the rental agreements. We told our staff that stern action would be taken if they don’t switch off high-end computers, while they are away. We are quite cautious as the next six-seven months are defining,” he said.

Stating that the slowdown has not affected the animation and gaming industry as yet, he predicted that there could be an impact mid-next year. “Funding, particularly for small companies, could become a problem,” he said.

Meanwhile, he denied reports that the company sacked about 800 employees. “We have 3,600 employees on board with projects worth $80-83 million on hand with a two-year delivery schedule. If we sack one-fourth of the strength, how could we complete the projects,” he asked.

He, however, admitted that the company had decided to have a re-look at the six-month target of taking 500-600 employees. It also didn’t effect any salary cuts too as of now. “We have recruited 850 artists in the last months. In the next three years, we have plans to add 2,400 more,” he said.

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