NEWS - Wednesday, April 3, 2013


More layoffs at Square-Enix LA Office

The Los Angeles offices of Square Enix America have again been hit with an unspecified number of layoffs, reportedly including the CEO and head of marketing. The office houses mostly marketing and public relations staff.

"We can confirm that Square Enix’s Los Angeles office has eliminated a number of positions as part of the corporate restructuring announced last week," the company said in a statement toJoystiq. "This is an unfortunate situation and we are offering assistance and severance packages to any employees affected by this, we want to thank them for their hard work and sincerely wish them well in the future."

According to a few Joystiq sources, 10 people were terminated from marketing, while another three or four in public relations will be released after E3. Roughly another 20 were laid off from other divisions within the office. In addition, president and CEO Mike Fischer will be out by May, and the director of marketing will be gone after E3.

Square Enix announced a restructuring of the company last week after the loss of a whopping $138 million for the fiscal year, primarily because of weaker than expected sales of Sleeping DogsHitman Absolution and Tomb Raider.


Source: http://www.shacknews.com

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