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More layoffs at Square Enix, as its new president reviews his options

As Square Enix prepares to review its business operations following an awful fiscal year, the company continues to restructure with more layoffs at its L.A. studio.
As Square Enix prepares to review its business operations following an awful fiscal year, the company continues to restructure with more layoffs at its L.A. studio. The Japanese publisher revised its full fiscal year forecasts last month, predicting a swing to losses from the previously estimated profits. The company's president Yoichi Wada also resigned, with Yosuke Matsuda now heading up the company. Matsuda said as part of a company briefing session, and as translated by Siliconera, that he plans to review all Square Enix duties, businesses and assets, looking to discover what works for the company and what doesn't. He went on to note that once a solution has been found, a concrete plan will be disclosed in another company briefing session in the near future. Meanwhile, former president Wada revealed that he is still at the company, although he didn't explain what sort of role he will be taking on, simply stating that he is "retiring from the line of management." Elsewhere Square Enix's restructuring efforts continue, as the company has laid off more staffers at its Los Angeles office, according to a statement given to Polygon. "This is an unfortunate situation and we are offering assistance and severance packages to any employees affected by this," said the company's senior director of public relations Riley Brennan. The L.A. branch was previously hit by layoffs last December.

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