Sega Sammy (the company formed after the merger of Sega and Sammy in 2004) has asked 650 employees to “voluntarily retire”, along with slashing the salaries of top executives.
Part of a structural reform, the company is adapting to COVID-19 and are looking for cost-reduction on fixed expenses.
Furthermore, the company’s Representative Director’s monthly salary will be cut by 30%, with the Senior Executive Vice President and Senior Vice President also getting 20% and 10% monthly cuts respectively. These changes will be in effect from November 2020 to March 2021.
Sega Sammy expects a 10 billion yen loss in the fiscal year ending March 2021.
Source: Nintendo Life