Square Enix Warns of Future Layoffs in the UK - NewsWilliam D'Angelo, posted on 01 May 2013 / 2,833 Views
Square Enix has told GamesIndustry International that the companies UK office is currently under review, due to the poor sales of several of its titles. Square Enix is also expecting redundancies to show up, which means layoffs could be coming in the future.
"We are reviewing our business in Europe to ensure we have the right structure, content and skills for the changing entertainment landscape," said a Square Enix spokesperson in an email. "We do expect changes to the UK office, which will affect personnel. We will update you when the time is right, but our priority right now is for the people within the business."
Square Enix had revised in fiscal forecast for the year ending March 31, 2013. The company now expects a loss of ¥13 billion ($138m), due to several of its titles missing their sales targets. Hitman: Absolution, Sleeping Dogs and Tomb Raider all missed their sales targets.
Last month Square Enix had laid off some of its employees at its Los Angeles studio, which was restructured. Also Square Enix CEO and president Yoichi Wada has stepped down.