Square Enix to lay off staff in the US and Europe
It has been confirmed that Square Enix has laid off an undisclosed number of employees in Europe and the US as part of a restructuring.
The details:
As reported by VGC, company president Takashi Kiryu announced the layoffs during an internal meeting with employees on Monday, with the cuts set to take place over the next month. According to attendees, Square Enix's publishing, IT, and Collective indie games divisions will be hit the hardest.
Employees affected by the layoffs will be informed this week, with US employees likely to be let go before June and UK-based employees entering a legally mandated one-month consultancy period. It's currently unknown how many employees will be affected.
In its most recent financial report, Square Enix announced that it had "begun optimizing costs at its European and American offices via structural reforms," as it looks to "rebuild overseas business divisions from the ground up." This is part of its multi-year business strategy, which also includes focusing on multi-platform AAA releases to improve its underwhelming financial performance.
More gaming news:
Following a 10% reduction in its workforce in January, Lords of the Fallen publisher CI Games has laid off another 30 employees.
Former Deviation Games developers are believed to have formed a studio under Sony and are working on a new, unannounced IP.