Relic Entertainment Inc., a video game developer based in Vancouver and owned by Sega Sammy Holdings Inc., SGAMY, announced that it has laid off 121 employees.
The company becomes the latest tech firm to undergo significant layoffs, continuing a disturbing trend that shows no signs of letting up.
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In a statement posted on Twitter, the developer stated: “Relic Entertainment and SEGA Europe want to share the difficult news that our studio has been impacted by layoffs, affecting 121 employees.”
The announcement continued, “This decision was made during a time when external factors are challenging our industry more than ever before, and we deemed it necessary to restructure our organization to ensure maximum focus is placed on our core franchises.” However, no specific details were provided.
Despite the layoffs, Sega has expressed its continued support and investment in Relic Entertainment and its critically acclaimed Company of Heroes series.
Numerous prominent studios and companies have also been forced to make significant staff reductions. For example, Deck Nine, The Molasses Flood, and Deviation Games have terminated employees this month, while indie developer PixelOpus was shut down by Sony Interactive Entertainment.
In addition, Kotak has reported that significant job cuts have been carried out by Unity Software Inc (NYSE: U) (600 employees), Electronic Arts Inc (NASDAQ: EA) (1,000), Ubisoft Entertainment SA (OTC: UBSFF) (60), Take-Two Interactive Software, Inc (NASDAQ: TTWO), Phoenix Labs, Tencent Holdings ADR’s (OTC: TCEHY), Riot Games (46), Brace Yourself (20), InnoGames (45), Playable Worlds (11), and Meta Platforms Inc (NASDAQ: META) (10,000), along with several esports companies, including FaZe Holdings Inc (NASDAQ: FAZE).
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