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Jobs axed at Square Enix Los Angeles

Corporate restructuring hits LA office

Square Enix has confirmed it will cut jobs at its Los Angeles branch.

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In a statement provided to Joystiq, the publisher confirmed that "a number of positions" will be eliminated as part of the corporate restructuring announced last week, which saw the resignation of president Yoichi Wada.

"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," the statement read.

Former Square Enix president Yoichi Wada resigned last week amid "extraordinary" financial losses. The publisher has downwardly revised its earnings forecast for the last business year (ending March 31, 2013) blaming "slow sales of major console game titles in North American and European markets".

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