The latest bad financial news from the gaming industry comes from Sega. The Japan-based publisher just announced its latest numbers and the results are not good. In fact they are bad enough that the company has announced plans to lay off 560 of its worldwide employees (Sega has about 3,100 employees). The company will record a loss of over $235 million, according to Kotaku.
A few weeks ago, it was reported that Sega's US branch had laid off 30 of its employees (A spokesperson later confirmed there were layoffs but would not confirm specific numbers). The new press release states that in order to save costs, Sega will cut 20 percent off its research and development budget which likely means a number of upcoming games could be canceled.
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