Sega is selling Relic Entertainment and cutting 240 jobs in Europe
==========
Sega has announced plans to sell Relic Entertainment, a Vancouver-based company specializing in real-time strategy games, to a holding company established by UK investment company Emona Capital LLP. The sale will result in the loss of 240 jobs in Europe, primarily at UK-based Creative Assembly, Sega Europe, and Sega Hardlight. Sega also announced that it will implement write-downs of work-in-progress for some titles in development, resulting in an expected loss of 5.6 billion yen ($31 million) as cost of sales. This decision is part of Sega's effort to streamline and focus on its core strengths in response to the changing economic landscape. Sega Europe had previously laid off 121 employees at Relic in May 2023 and cut a further 250 jobs in September 2023. The company is working closely with Relic on the transition and wishes them the best for the future.
#Sega #RelicEntertainment #JobCuts #VideoGames
https://www.videogameschronicle.com/news/sega-is-selling-relic-entertainment-and-cutting-240-jobs-in-europe/
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2024-03-28 10:30:18
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2024-03-28 10:30:18Event JSON
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"content": "Sega is selling Relic Entertainment and cutting 240 jobs in Europe\n==========\n\nSega has announced plans to sell Relic Entertainment, a Vancouver-based company specializing in real-time strategy games, to a holding company established by UK investment company Emona Capital LLP. The sale will result in the loss of 240 jobs in Europe, primarily at UK-based Creative Assembly, Sega Europe, and Sega Hardlight. Sega also announced that it will implement write-downs of work-in-progress for some titles in development, resulting in an expected loss of 5.6 billion yen ($31 million) as cost of sales. This decision is part of Sega's effort to streamline and focus on its core strengths in response to the changing economic landscape. Sega Europe had previously laid off 121 employees at Relic in May 2023 and cut a further 250 jobs in September 2023. The company is working closely with Relic on the transition and wishes them the best for the future.\n\n#Sega #RelicEntertainment #JobCuts #VideoGames\n\nhttps://www.videogameschronicle.com/news/sega-is-selling-relic-entertainment-and-cutting-240-jobs-in-europe/",
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