TITLE

Sega to Cut Jobs

AUTHOR(S)

Lee, Michael

PUB. DATE

February 2009

SOURCE

Red Herring;2/10/2009, p2

SOURCE TYPE

Trade Publication

DOC. TYPE

Article

ABSTRACT

The article unveils the plan of Japanese video game developer and publisher Sega to seek voluntary retirement from its 560 employees. With the expected voluntary retirement, Sega expects to pay out over $44 million in severance packages, but it will save more than $55 million in annual labor costs. The company also plans to close 110 of its amusement facilities and reduce research and development in the amusement machine business.

ACCESSION #

36602871

Tags: SEGA Corp.;  VIDEO game industry;  RESIGNATION of employees;  SEVERANCE pay;  LABOR turnover;  DOWNSIZING of organizations

 

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