Square Enix announced another round of layoffs in its European sector as part of a company-wide restructuring on Tuesday.
The Final Fantasy publisher is the latest game company to undertake widespread job cuts due to disappointing sales and revenues. Other major videogame publishers, including Electronic Arts and Activision, recently undertook massive layoffs for what they call part of organizational restructuring.
The move comes after the company suffered an "extraordinary loss" for the financial year ended March 31.
"We are reviewing our business in Europe to ensure we have the right structure, content, and skills for the changing entertainment landscape," Square Enix says in a statement sent to MCV UK. "We do expect changes to the UK office, which will affect personnel. We will update you when the time is right, but our priority right now is for the people within the business."
The company confirmed its layoff plans, but did not specify who or how many people will be let go. The job cuts come a little less than a month after the company announced significant layoffs at its Los Angeles office, where it said redundancies were made "as part of the corporate restructuring."
Square Enix' President Yoichi Wada stepped down in March after the company announced an expected 10 billion yen loss for the 2012-2013 financial year. The disappointing sales of some of its big-budget titles, including Tomb Raider, Hitman: Absolution and Sleeping Dogs (despite being well-received critically) in the North American markets have added further misery to its financial woes, prompting the company to initiate a major restructuring involving significant job cuts.
