Cost cutting necessary as company sinks
Last modified on Monday, 11 February 2008 09:38
Sega-Sammy has announced that it will lay off 400 employees in an effort to slash the red ink that the company is bleeding. The company has been undertaking a variety of measures to stem the losses, including the reduction of pay and bonuses for managers, and the closing of amusement arcades that have been determined to be unprofitable.
With the cuts, Sega-Sammy will be bringing staff levels to just around 3,000 employees worldwide. Sega-Sammy is also soliciting voluntary retirement of employees in an effort to reduce costs and gain some greater cost flexibility.