Square Enix's Los Angeles studio has been hit with layoffs as fiscal year 2012 wraps up for the company. Just recently the company's president Yoichi Wada resigned citing "extraordinary loss" following unmet goals for their biggest titles: Tomb Raider, Hitman Absolution and Sleeping Dogs. Soon to be new president Yosuke Matsuda has already begun is plan to "fundamentally review" all Square Enix's holdings. Thus, the layoffs.
The Los Angeles studio was unfortunately already hit with layoffs in December last year, making the latest round of layoffs only that much more disheartening. While the studio itself wasn't responsible for any single game's development, they are said to be responsible for many North American services for their online games -- Wakfu and Final Fantasy XIV for instance. It's being said no game will be directly effected by the layoffs.
A Square Enix PR representative offered the following statement:
"We can confirm that Square Enix’s Los Angeles office has eliminated a number of positions as part of the corporate restructuring announced last week. This is an unfortunate situation and we are offering assistance and severance packages to any employees affected by this, we want to thank them for their hard work and sincerely wish them well in the future."
Unfortunately layoffs seem to stack up every year around the end of the fiscal calendar's end. Hiring is a yearlong practice, but layoffs only occur when companies have t report financials to their shareholders. Considering just how big of a loss Square Enix suffered this past year, it's unlikely the layoffs will end here, either.
We here at Neoseeker wish the best for all the employees effected by these layoffs and wish them the speediest of recoveries finding work on something new, exciting, and almost certainly as much or moreso rewarding.