SEGA laid off 240 people and parted ways with Relic Entertainment
SEGA continues to restructure. As part of it, the company sold Relic Entertainment, best known for the strategies of Company of Heroes, Age of Empires IV and Warhammer 40,000: Dawn of War.
Company of Heroes 3
Apparently, Relic Entertainment bought out its own management. The studio released a statement on social media in which it called itself an independent company, adding that it was helped with the deal by an outside investor.
SEGA's press release clarifies that the deal went through a holding company recently created by the British investment firm Emona Capital.
Important Update from Relic Entertainment pic.twitter.com/nCcF8olDaC
— Relic Entertainment (@relicgames) March 28, 2024
It is not known how much the sale of the studio cost. According to SEGA, at the end of 2023, Relic Entertainment's assets were estimated at 71.5 million Canadian dollars (52.6 million US dollars), and the studio's net profit was 8.28 million Canadian dollars (6 million US dollars).
SEGA also announced layoffs at SEGA Europe, Hardlight and Creative Assembly. In total, she is cutting about 240 people. It is not said how many people will be fired from each studio, but it is known that the bulk of the layoffs will be at SEGA Europe and Creative Assembly.
The head of SEGA Europe, Jurgen Post, said in a letter to employees that the restructuring guarantees the future for the company's gaming business.
"We need to optimize our work, focus on what we are good at, and prepare as best as possible for what may await us in the future. Therefore, we need to respond to the changing economic situation and solve the problems we face when developing games and bringing them to market," the Post wrote.
SEGA began restructuring in September 2023. Then she dismissed about 250 people from European units.
