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Report: Marvelous Entertainment Seeks Voluntary Retirements

Report: Marvelous Entertainment Seeks Voluntary Retirements

March 24, 2009 | By David Jenkins

March 24, 2009 | By David Jenkins
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More: Console/PC

Harvest Moon publisher Marvelous Entertainment has reportedly asked for around 20 employees to accept a voluntary retirement package, aiming to reduce head count by 17 percent.

In news translated by website Anime News Network, the company has offered a special severance package for any employee who wishes to apply between March 23rd and April 3rd. The retirements will come into effect on April 30th.

Marvelous was forced to lower its full year estimates last month following lower-than-expected sales, and now expects to report a 1.31 billion ($13.3m) loss. The company has already cut employees compensation packages and bonuses, and canceled some public marketing events.

Best known in the West for the Harvest Moon series and as the original Japanese publisher of No More Heroes, Marvelous also produces a range of anime and music products in its home country. The company also owns 51 percent of European publisher Rising Star Games and has a co-publishing deal with XSeed in the U.S.

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