Sega is set to reduce its workforce by 18%, which represents approximately 560 jobs. Edge
reports that if all goes according to plan, Sega may only see a one-time loss of ¥4 billion ($43.8M), with an annual savings of ¥5 billion ($54.8M). The company also plans to close 110 amusement facilities, along with reducing research and development by 20?%.
It is unclear whether Sega
's axing of 560 jobs includes the 30 Sega America staff let go last month
. Sega revealed that it lost $119 million in the first three quarters of the fiscal year, with full year expectations not looking any brighter. We'd shed some tears out of empathy over these latest layoffs
, but apparently tears are currently sold out and on backorder in this economy.