Sega Sammy Calls For Employees' Voluntary Retirement

Category: Games, Date: 07/Nov/2020

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Sega

Sega Sammy has announced that it’s called for voluntary retirement of 650 employees and reduction in pay for directors due to the negative impact the coronavirus pandemic has had on its business.

Eligible applicants have until December 25 to apply and will leave the company on February 28. They will receive “payment of extraordinary retirement allowances” and Sega Sammy will support them in their search for new employment.

The company expects to record a loss of approximately 10 billion yen (about US$97 million) for the current fiscal year as losses from the structural reform expenses.

Sega Sammy has set up a ‘structural reform committee’ to identify ways to review its balance sheet, reduce costs, and “build an organizational structure that can adapt to changes in the market environment.”

The company expects to record a loss of approximately 10 billion yen (about US$97 million) for the current fiscal year as losses from the structural reform expenses.

Global Entertainment Network for Dreams and Aspirations (GENDA) announced on Wednesday that it has acquired 85.1% of shares of arcade and amusement center company Sega Entertainment.