As Square Enix prepares to review its business operations following an awful fiscal year, the company continues to restructure with more layoffs at its L.A. studio.
The Japanese publisher revised its full fiscal year forecasts last month, predicting a swing to losses from the previously estimated profits. The company's president Yoichi Wada also resigned, with Yosuke Matsuda now heading up the company.
Matsuda said as part of a company briefing session, and as translated by Siliconera, that he plans to review all Square Enix duties, businesses and assets, looking to discover what works for the company and what doesn't.
He went on to note that once a solution has been found, a concrete plan will be disclosed in another company briefing session in the near future.
Meanwhile, former president Wada revealed that he is still at the company, although he didn't explain what sort of role he will be taking on, simply stating that he is "retiring from the line of management."
Elsewhere Square Enix's restructuring efforts continue, as the company has laid off more staffers at its Los Angeles office, according to a statement given to Polygon.
"This is an unfortunate situation and we are offering assistance and severance packages to any employees affected by this," said the company's senior director of public relations Riley Brennan. The L.A. branch was previously hit by layoffs last December.
Well, for me that's the main reason why they lose so much money.
You may say is because they are making bad games, but there are way more companies out there doing the same and still earning shitons of cash.
The love ppl had for Squaresoft is turning to extreme hate for Square-Enix. That may kill their business. So I can't see why he would not worry about that if he pretend not to resign just like the last guy did.
Actually, I believe squareenix has been one of the few big publishing houses that has consistently posted significant profits this generation, largely buoyed by a steady flow of Square re-releases on handhelds and Enix still hitting it out of the park once in a while. The one time extraordinary losses seem to have been largely blamed on missing sales expectations on the super high profile Western releases of Tomb Raider and Hitman: Absolution (which are absolutely not terrible games). As I see it, most publishers have been losing shitons of money making ultraspectacle core oriented +$40,000,000 games. Now that SquareEnixEidos is doing it, they're losing shitons too.
Good luck with that mr. Matsuda!
You may say is because they are making bad games, but there are way more companies out there doing the same and still earning shitons of cash.
The love ppl had for Squaresoft is turning to extreme hate for Square-Enix. That may kill their business. So I can't see why he would not worry about that if he pretend not to resign just like the last guy did.