Good news for those who work at embattled Nintendo: You're not going to get laid off anytime soon. At least, that's the news coming from Nintendo president Satoru Iwata, who shot down the idea that Nintendo should perform a corporate restructuring in the wake of two years' worth of operating losses.

The bad news? The company is still in a bit of a bind with its latest console. In January, Nintendo cut sales estimates for the Wii U from 5.5 million units to 4 million units for its current fiscal year. Worse, the console is still struggling to acquire a flagship title that could encourage customers to give the Wii U more of a fighting chance. It might be too late once games like Mario Kart 8 and Super Smash Brothers square off against next-gen console offerings from Microsoft and Sony.

"I do not think we should become too pessimistic about the current situation with the Wii U," Iwata said in an interview with CNBC last month. "I think we should pour that time and energy into our [development] efforts, so eventually we can encourage third-party [publishers] to want to support Nintendo."

Source: PC Magazine