SEGA selling off their arcade business isn't the only bad news for the company. A press release has just announced that due to losses suffered this recent financial quarter SEGA will be asking 650 of its employees to "voluntarily retire". The document states that SEGA is establishing a structural reform to adapt to a post-Covid-19 market, and to offset further losses expected to be reported in their yearly fiscal report, set to be reported in March 2021. While an exact number hasn't been released, SEGA expects to have lost 10 billion yen in losses since the onset of Covid-19 throughout the entire fiscal year. Any workers facing voluntary retirement will be given "extraordinary retirement allowances" and SEGA will help any former employees find new work through reemployment support.
This isn't the only cost-saving measure being taken by the company either, as their executive staff will be facing salary cuts. Any employee above the position of Representative Director or Senior Vice President will see their income cut 10-30%.