Sega Sammy Expects a Loss of 10 Billion Yen, Asks 650 Employees to Voluntarily Retire - News
by William D'Angelo , posted on 05 May 2021 / 3,002 Views
Sega Sammy is having a tough year as they expect to see a huge loss of around 10 billion yen ($96.8 million) for the fiscal year ending March 31, 2021, said the company in a press release.
As of September 30, the company employs 9,051 staff and due to the expected large losses is asking 650 employees to voluntarily retire. Full time and contract employees will be able to apply for voluntary retirement by December 25, 2020. Those that do decide to retire will get "extraordinary retirement allowances" and support in finding a new job after they leave on February 28, 2021.
Sega Sammy directors will also take pay cuts to their base salary for the rest of the 2020 fiscal year. Pay cuts vary from five percent up to 30 percent. They also do not plan to pay any bonuses as they are based on performance.
Thanks, Siliconera.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.
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This is very sad indeed
Just release Persona 5 on Switch... Easy money, minimal cost (here come the downvotes)
Lol. But I am surprised they anticipate such a loss. I had the impression things were going pretty well for them. Didn't the genesis mini come out this fiscal year?
sega sammy is in bad state.... but how much of that is sega? becasue sega's probably doing fine, exept for the fact that arcade revenue has ground to a halt.
Their arcade division was recently sold due to that same reason
Sony should buy them for now, japan will not let microsoft monopoly the market in japan.
Please seriously, suppress this feature which hides comments when there are too many dislike, this is becoming more and more ridiculous.
I hope they are asking the higher ups to retire, otherwise they can jog on.
It makes sense why there was so much speculation on Sega being brought out.
i support 13 Sentinals, Yakuza 7 and Persona 6 on PlayStation in Future :)
By the way: The Masterpiece Persona 5 is free for all Ps+ Members on PS5 in the next months.
Maybe now is a good time for Sony or Microsoft to strike n buy SEGA or at least get a massive stake in the company to help it through these tough times
Better to wait until the company hits the bargain bin. I’m sad by it, but Sega lost its muscle long long ago :(
Yeah Sega wont be climbing the ladder in revenue any time soon, these businesses are smart and they will wait until they become super cheap and jump on board. No point paying big for a company on the nose dive.
It would take a big chunk out of Nintendo's cash, but wouldn't it be ironic if they did it? But an investment like that probably wouldn't make as much sense for them as Sony or Microsoft. I could see those two trying to get more big franchises like sonic or yakuza. But even sonic has become a little washed up if not for mania and smash bros.
It would take a big chunk out of Nintendo's cash, but wouldn't it be ironic if they did it? But an investment like that probably wouldn't make as much sense for them as Sony or Microsoft. I could see those two trying to get more big franchises like sonic or yakuza. But even sonic has become a little washed up if not for mania and smash bros.
wouldn't be THAT big of a chunk with the switch literally printing money.
but I hope its nintendo who does.
Mmm, maybe they a little open to MS in the future...a guy can hope
Sony headquarters needs to give Sammy Holdings a call...
I hope that for SEGA the word "honor" still means something. Better die imo.
Ms should by them entirely
But what are they doing at the end ? It is still a bigger company than Nintendo, but it looks like the 2nd one produces way more stuff.
Man, Sega games are gonna make Gamepass so friggin awesome.
Nintendo must buy SEGASAMMY, become the absolute Empire of the video games and finally destroy SONY and Microsoft. Let's finish this war now.
Common M$ work your magic
Essay Pro