Another massive video game company has been hit by layoffs in what is proving to be one of – if not the – toughest period for those working in the industry in recent memory. This time it’s Square Enix up to the cutting board, as the company has announced layoffs in both its European and American departments. Square Enix itself has yet to offer an official announcement.

This, first reported by VGC, comes soon after Square announced poor financial results compared to last year, due in large part to the cancellation of some unannounced video games. This move was made to better fit with a new longer-term company strategy – dubbed “Square Enix Reboots and Awakens” – but has resulted in a 70% profit deficit in contrast to this time last year.

What these games are remains a mystery, but it appears that the publication of this information came as a retreating tide, followed shortly by this wave of Square Enix layoffs. The news was broken to staff via a company’wide town hall meeting, in which president Takashi Kiryu stated that over the next month those from publishing, IT, and Square Enix’s Collective indie games division would be most affected. The exact number of layoffs has not been confirmed.

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