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- Square Enix is reportedly set to lay off various members as it progresses through a restructuring plan.
- The layoffs will be officially announced next week, impacting the US and European divisions of sectors like IT, indie games, and publishing.
- The exact number of employees affected is not known at this time.
Square Enix announced concerning figures in its latest financial report earlier today, revealing a huge decline in profit year-on-year. To combat the situation, the gaming giant is pursuing a restructuring plan.
This plan will lead to a bigger focus on third-party gaming, in addition to fewer AAA releases. However, it seems the gaming giant has also carried out layoffs as part of the restructuring.
Why it matters: Layoffs have become a common theme in the industry this year. Whether it be PlayStation, EA, or Xbox, no gaming giant has escaped the threat of layoffs.
VGC reports that Square Enix has laid off various staff members from its US and European divisions. President Takashi Kiryu has confirmed that the impacted divisions include publishing, indie gaming, and IT.
While no exact number has been provided yet, the studio expects the layoffs to continue over the course of the next month. It has also been reported that staff will be told about the job cuts next week.
While details on the situation remain slim at best, for now, we expect more information to be revealed over the course of this week.
Square Enix seems to be making fundamental shifts to its business as it prepares for a new direction. This may prove crucial in the long run, but layoffs are always sad to see in the industry.
The industry has been particularly challenging for developers in 2024. Each month brings the promise of a better future, but it seems that layoffs have become a never-ending trend in 2024.
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[News Reporter]
Avinash is currently pursuing a Business degree in Australia. For more than three years, he has been working as a gaming journalist, utilizing his writing skills and love for gaming to report on the latest updates in the industry. Avinash loves to play action games like Devil May Cry and has also been mentioned on highly regarded websites, such as IGN, GamesRadar, GameRant, Dualshockers, CBR, and Gamespot.
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