Venerable gaming giant SEGA is joining tech and entertainment companies being forced to drop employees in response to the craptastic economy. SEGA Sammy Holdings will close 110 amusement facilities and drop 560 staff members. That's 18 percent of the company's employees. Ouch.
That's not all: SEGA also promises to slash research and development costs: “In the amusement machine business and consumer business, Sega will reduce research and development cost by approximately 20 percent [compared with fiscal year 2008] for the next fiscal year by consolidating titles to be developed and otherwise,” reads the company's investor report.
Which titles will be "consolidated" and what exactly that means was not announced. SEGA has some highly anticipated titles in the hopper including Madworld, Yakuza 3 and Conduit.
As always, there's a silver lining to all terrible economic news on TheFeed. That's right, company layoffs mean the return of the cutest of all economic despair harbingers -- our Great Depression mascot, Ginger, The Layoff Kitty!
Look at that cute little num-num! Surely, everything will be fine: