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Sega to Sell Relic Entertainment, Will Cut 240 Employees Across UK, Europe
Sega is selling off "Company of Heroes" developer Relic Entertainment and laying off 240 employees across Sega's Europe and UK-based teams.
As a result of the sale, Relic will become an independent studio supported by an outside investor, and will proceed with work on its current titles, including “Company of Heroes 3.” In a document filed with the Tokyo Stock Exchange Thursday, Sega wrote: “The business environment surrounding the Consumer area, especially in European region, has been rapidly changing, including reactionary decline from the stay-at-home demand in COVID-19 and the economic downturn due to inflation, etc., and profitability has been lowered. To promptly adapt to these changes in the environment and improve profitability, we have decided to implement Structural Reform at our European bases and have been considering a review of the medium-term lineup, optimization of fixed expenses and improvement of investment efficiency, and review of development/sales structure and management system, and have now decided to implement the following three measures.”
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