MCV has received a statement from Square Enix confirming the issuance of a round of layoffs in its European sector, as part of the company’s restructuring plan.
“We are reviewing our business in Europe to ensure we have the right structure, content and skills for the changing entertainment landscape,” a statement issued to MCV read. “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.”
At the end of March, Square Enix announced its financial results for its fiscal year, in which the company noted that they were expecting an “extraordinary loss” partly due to games including Hitman: Absolution and Tomb Raider, falling short of the company’s original sales targets.
This was also when Square Enix announced there would be some “major restructuring” of the company, which cost them around 10 billion yen ($106m). Shortly after, president and CEO of Square Enix, Yoichi Wada announced his resignation.
Earlier this month Square Enix’s Los Angeles office was also hit by layoffs, “as part of the corporate restructuring” which was announced in March.