SEGA Japan asks for 650 of their employees to voluntarily retire after "extraordinary losses"

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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%.

:arrow: Source
 

LightOfHeart

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I thought sega was doing fine with remaking same games and classic console. Basically they need to start making more hardware, software ain't cutting it .
 

HarvHouHacker

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Heyyy! Maybe Nintendo would like to buy SEGA? Unlikely to happen, but it's an idea, anyway. SEGA needs to rethink their strategies if they want to survive.

This isn't the first time SEGA has had monetary issues, and until some profitable company buys it out, it won't be their last. SEGA's financial state is always bouncing up and down - great financial peaks, then losses that they must recover from. Ever since the demise of the Dreamcast, this is how it's been for SEGA.

I guess they really should focus on that sequel for the Sonic movie earlier this year. Either that, or put more focus on other great SEGA properties past and present (personally, I would love to see Comix Zone and Vectorman be remade for a new generation). Sonic isn't the only mascot SEGA has, by the way.
 

Silent_Gunner

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Jesus, I know that the Tojo clan is facing some hard times, but did the Omi really hurt them that bad?

If only SEGA had their own Kiryu IRL...

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Heyyy! Maybe Nintendo would like to buy SEGA? Unlikely to happen, but it's an idea, anyway. SEGA needs to rethink their strategies if they want to survive.

This isn't the first time SEGA has had monetary issues, and until some profitable company buys it out, it won't be their last. SEGA's financial state is always bouncing up and down - great financial peaks, then losses that they must recover from. Ever since the demise of the Dreamcast, this is how it's been for SEGA.

I guess they really should focus on that sequel for the Sonic movie earlier this year. Either that, or put more focus on other great SEGA properties past and present (personally, I would love to see Comix Zone and Vectorman be remade for a new generation). Sonic isn't the only mascot SEGA has, by the way.

Fun fact from Matt McMuscles' Wha' Happun video: after the DC, SEGA was going to bite the dust, but the president of the company they were in debt to decided to cancel their debt on his deathbed.
 
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