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Layoffs in US and Europe as part of restructuring

Layoffs in US and Europe as part of restructuring

Following Square Enix's recent financial results, the publisher is undergoing restructuring. Redundancies are included.

Already Reported in the morning We are it Square Enix Want to reorganize due to business failures. Both sales and profits were last Below expectations.

It was initially unclear whether the restructuring would affect employee numbers. According to media reports, the measures actually include job cuts.

Employees in the US and Europe are affected

As part of the ongoing restructuring, Square Enix will lay off an unknown number of employees. VGC informs. This was communicated to the employees in an internal meeting.

Square Enix president Takashi Kiryu spoke later about layoffs affecting both the publisher's American and European branches over the next few months, people present said.

The extent of the planned layoffs is not yet known. But employees in the publishing, IT and collective indie games divisions were particularly affected, employees said.

What's next?

  • Affected employees will be notified within this week.
  • In England, employees enter into a one-month consultation period in accordance with local employment law.
  • US employees may leave their posts by June.

VGC also reports that several of Square Enix's main Slack channels were suspended following the meeting.

The recent restructuring, including staff reductions, is a result of recent business decisions. Profits fell nearly 70 percent year-over-year, attributed to an “extraordinary loss” on some content removals.

Square Enix also announced that several projects were canceled because they didn't fit into the publisher's future strategy. Further details are summarized in the following message:

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Square Enix now wants to focus on a multiplatform strategy. This way, the publisher said, “an environment will be created where the majority of customers can enjoy our titles, including major franchises and AAA titles, as well as catalog titles.”

After The Switch recently managed to pass another milestoneEspecially this console should have a large audience.

More news about Square Enix.

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