Square Enix today confirmed the cancellation of multiple projects that now "do not align with our long-term growth vision," after its latest financial reports revealed a new strategy for upcoming games.
Square Enix also plans to lay off employees
Additionally, the company will lay off an undisclosed number of employees at its U.S. and European operations as part of its ongoing restructuring.
Square Enix president Takashi Kiryu informed employees of the upcoming layoffs in an internal meeting on Monday, May 14 (thanks VGC for reporting first). While the extent of these planned layoffs is not yet known, staff were told that people working in publishing, IT, and Square Enix Collective’s indie games division will be most affected. All affected employees will be informed individually later this week, VGC suggested. However, many of Square’s main Slack channels were reportedly blocked following the internal meeting.
Square Enix previously indicated that it was planning a company-wide restructuring following a significant drop in estimated profits . But only now are we seeing it in action. Dot Esports reported earlier today on the company's multiplatform pivot for its AAA games as part of its mid-term business plan dubbed 'Square Enix reboots and awakens.'
