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Sega Loses Its Wallet

By Warren Stallworth on Sunday, February 10, 2008 at 6:38 PM East
Filed Under News  

Sega Loses Money

Gamesindustry.biz is reporting that Sega-Sammy is voluntarily retiring 400 employees, following the announced expectation of JPY 26 billion ($242.1 million) in losses. Despite the company closing 110 amusement establishments and cutting pay and bonuses for its entire managerial staff, the company is still losing money by the truck loads. Sadly, in the same time last year they posted a profit of JPY 49.38 billion.

Seems that the changing gaming world has affected Sega in an adverse way. Hopefully the company can turn it around before something horrible happens. I would hate to see Sega go the way of Atari.

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