11-06-2020, 10:27 PM
Sega Asks 650 Employees To ‘Voluntarily Retire’, Cuts Executive Salaries
<div><div class="media_block"><a href="https://images.nintendolife.com/be1ce08f55515/large.jpg"><img src="https://images.nintendolife.com/be1ce08f55515/small.jpg" class="media_thumbnail"></a></div>
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<div class="img"><a title="Sega" href="https://images.nintendolife.com/be1ce08f55515/sega.original.jpg"><img loading="lazy" src="https://images.nintendolife.com/be1ce08f55515/sega.900x.jpg" width="900" height="506" alt="Sega"></a><span class="image-credit" title="Image Credit">Sega</span></div>
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<p>Following this week’s news that Sega Sammy is <a href="https://www.nintendolife.com/news/2020/11/sega_sammy_set_to_sell_majority_of_sega_entertainment">set to sell the majority of its shares in Sega Entertainment</a>, the company has now announced that it is asking 650 employees to ‘voluntarily retire’ and will slash the salaries of top executives.</p>
<p>The company, formed by a merger of both Sega and Sammy in 2004, has revealed its plans in a newly-published <a class="external" href="https://www.segasammy.co.jp/english/pdf/release/20201106_kibo_e.pdf">Notice of Forecast document</a>. As spotted by <a class="external" href="https://kotaku.com/in-japan-sega-just-asked-650-employees-to-retire-volun-1845591855">Kotaku</a>, the notice reads, “In light of the situation that many of our Group’s business are significantly affected by COVID-19, we have established a Structural Reform Committee to reform our organization structure to adapt to the external environment…</p>
<p>“In order to recover earnings at an early stage and achieve sustainable growth in the future, we consider that it is necessary to promote cost-reduction centered on fixed expenses and build an even more efficient system and decided to call for voluntary retirement of employees.”</p>
<p>This call for voluntary retirement has been issued to a total of 650 full-time and contracted employees, asking for a retirement date of 28th February 2021. Those who choose to take the option will receive a “payment of extraordinary retirement allowances and reemployment support”.</p>
<p>As noted above, it’s not just the employees who have been affected. The document goes on to say that the company’s Representative Director’s monthly salary will be cut by 30%, with the Senior Executive Vice President and Senior Vice President also getting 20% and 10% monthly cuts respectively. These changes will be in effect from November 2020 to March 2021.</p>
<p>Speaking about its future, Sega Sammy says, “We expect to record approximately 10 billion yen as extraordinary losses (structural reform expenses) in fiscal year ending March 2021.”</p>
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https://www.sickgaming.net/blog/2020/11/...-salaries/
<div><div class="media_block"><a href="https://images.nintendolife.com/be1ce08f55515/large.jpg"><img src="https://images.nintendolife.com/be1ce08f55515/small.jpg" class="media_thumbnail"></a></div>
<figure class="picture strip">
<div class="img"><a title="Sega" href="https://images.nintendolife.com/be1ce08f55515/sega.original.jpg"><img loading="lazy" src="https://images.nintendolife.com/be1ce08f55515/sega.900x.jpg" width="900" height="506" alt="Sega"></a><span class="image-credit" title="Image Credit">Sega</span></div>
</figure>
<p>Following this week’s news that Sega Sammy is <a href="https://www.nintendolife.com/news/2020/11/sega_sammy_set_to_sell_majority_of_sega_entertainment">set to sell the majority of its shares in Sega Entertainment</a>, the company has now announced that it is asking 650 employees to ‘voluntarily retire’ and will slash the salaries of top executives.</p>
<p>The company, formed by a merger of both Sega and Sammy in 2004, has revealed its plans in a newly-published <a class="external" href="https://www.segasammy.co.jp/english/pdf/release/20201106_kibo_e.pdf">Notice of Forecast document</a>. As spotted by <a class="external" href="https://kotaku.com/in-japan-sega-just-asked-650-employees-to-retire-volun-1845591855">Kotaku</a>, the notice reads, “In light of the situation that many of our Group’s business are significantly affected by COVID-19, we have established a Structural Reform Committee to reform our organization structure to adapt to the external environment…</p>
<p>“In order to recover earnings at an early stage and achieve sustainable growth in the future, we consider that it is necessary to promote cost-reduction centered on fixed expenses and build an even more efficient system and decided to call for voluntary retirement of employees.”</p>
<p>This call for voluntary retirement has been issued to a total of 650 full-time and contracted employees, asking for a retirement date of 28th February 2021. Those who choose to take the option will receive a “payment of extraordinary retirement allowances and reemployment support”.</p>
<p>As noted above, it’s not just the employees who have been affected. The document goes on to say that the company’s Representative Director’s monthly salary will be cut by 30%, with the Senior Executive Vice President and Senior Vice President also getting 20% and 10% monthly cuts respectively. These changes will be in effect from November 2020 to March 2021.</p>
<p>Speaking about its future, Sega Sammy says, “We expect to record approximately 10 billion yen as extraordinary losses (structural reform expenses) in fiscal year ending March 2021.”</p>
</div>
https://www.sickgaming.net/blog/2020/11/...-salaries/