Layoffs hit Square Enix Europe

Square Enix has begun a round of layoffs in its UK and European offices.

In a statement to MCV UK, the company confirmed the news. The announcement comes after the publisher saw an "extraordinary loss" for the financial year ended March 31.

Speaking to the trade publication, Square Enix said, "We are reviewing our business in Europe to ensure we have the right structure, content, and skills for the changing entertainment landscape."

"We do expect changes to the UK office, which will affect personnel. We will update you when the time is right, but our priority right now is for the people within the business.”

Last month, Square Enix president Yoichi Wada resigned from the company following the announcement of an expected 10 billion yen loss for the 2012-2013 financial year. Despite being well-received critically, sales for big-budget Square Enix titles Tomb Raider, Hitman: Absolution, and Sleeping Dogs failed to meet expectations in the North American market.