Square Enix has officially announced long rumoured massive cuts to its workforce, with the company set to sack 10% of its employees in a move it insists is not “restructuring” but is instead an act of “organizational invigoration.”
The move was announced at the recent shareholders’ assembly by CEO Yōichi Wada, and will see the company shedding 10% of its 3,805 employees:
“Our management strength has been weakened through repeated mergers, and the kind of inefficiency typical of large enterprises has set in. We intend to reduce our organisation’s size to improve coordination.
This is not a restructuring, but done for the sake of organizational invigoration.”
It will be interesting to see whether this latest new euphemism for sacking unwanted employees will stick…
Square Enix is actually enjoying quite favourable performance, with sales up 33.2% on a year earlier, and operating profits up 39.3%, indicating the move, severe as it is, is by no means a desperate one, particularly with the imminent release of Final Fantasy XIII.
In other news Wada also insists Final Fantasy XIII will be the best selling Final Fantasy title since Final Fantasy X, saying Europe and America are the “fertile lands” the company is aiming for…