© Provided by Benzinga Relic Entertainment Inc., the Canadian video game developer owned by Sega Sammy Holdings Inc. (OTC: SGAMY), announced the layoff of 121 employees.
The Vancouver-based company becomes the latest addition to the growing list of tech companies initiating significant layoffs, a concerning trend that shows no signs of abating.
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In a statement published on Twitter, the developer wrote: "Relic Entertainment and SEGA Europe want to share the difficult news that our studio has been impacted by layoffs, affecting 121 employees."
"This comes at a time when external factors are challenging our industry more than ever, and we made this decision to restructure our organization to ensure maximum focus is placed on our core franchises," the announcement continued without providing specific details.
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Despite this, Sega assured that it remains committed to supporting and investing in Relic Entertainment and its critically acclaimed Company of Heroes series.
Layoffs have become a recurrent occurrence in the industry, with several prominent studios and companies facing significant staff reductions.
For example, studios such as Deck Nine, The Molasses Flood and Deviation Games have terminated employees this month, while indie developer PixelOpus was shut down by Sony Interactive Entertainment.
But that's not all: since the beginning of the year, as reported by Kotak, significant job cuts have been reported 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), as well as several esports companies including FaZe Holdings Inc. (NASDAQ: FAZE).
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This article Gaming Industry Layoffs Continue: SEGA's Relic Entertainment Announces 121 Job Cuts originally appeared on Benzinga.com.
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