On March 28, 2024, SEGA Sammy Holdings announced two linked restructuring measures: a planned sale of all shares in Relic Entertainment and a reduction of approximately 240 roles across several European bases. The company said lower profitability in Europe—amid a post-pandemic decline in stay-at-home demand and an inflation-related economic downturn—prompted the changes.
What Sega announced
SEGA Sammy’s board resolved the measures on March 28, 2024, as part of a broader structural reform. The plan combined a transfer of Relic’s shares with workforce reductions intended to optimize fixed expenses. The company also said it would review its development lineup and investment efficiency.
- Relic: SEGA Sammy planned to transfer all shares in Relic, then a consolidated subsidiary held through SEGA Europe.
- European roles: The company announced a reduction of approximately 240 roles at several European bases. This is an approximate announced figure, not a verified final headcount.
The announcement was a resolution and planned transfer, not by itself confirmation that the transaction was completed. SEGA Sammy listed March 28, 2024, as the planned implementation date. SEGA Sammy’s announcement
Why did Sega sell Relic and cut roles?
SEGA Sammy attributed the restructuring to weaker profitability in Europe. Its March 28, 2024 announcement said the consumer business environment, particularly in Europe, had changed quickly, citing a reactionary decline in COVID-era stay-at-home demand and an economic downturn due to inflation. That is the company’s stated rationale, not an independent finding about the entire games industry.
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The company also tied the decisions to controlling fixed costs and improving investment efficiency. The share transfer and the job reductions were separate actions within that wider effort.
Who was buying Relic Entertainment?
The announced transferee was a holding company to be newly established by UK investment company Emona Capital LLP. SEGA Sammy said further details would not be disclosed at the transferee’s request, and it did not disclose the transfer value. The announcement therefore identified the firm behind the proposed buyer vehicle but did not provide the sale price or full buyer details. SEGA Sammy’s announcement
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How many Sega workers were laid off?
SEGA Sammy announced approximately 240 role reductions across several European bases. It did not publish an exact final count or a complete breakdown by studio in the corporate release.
Contemporaneous reporting said most of the cuts were expected at Creative Assembly and SEGA Europe, with a smaller number at SEGA HARDlight. That studio-level distribution came from reporting, rather than the company’s release. Contemporaneous industry reporting
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The March 2024 figure is distinct from approximately 250 roles already reduced after European project cancellations in September 2023, which SEGA Sammy referenced in its announcement. Those earlier reductions should not be added to the 240 as though they were part of the same announced round.
What did the restructuring cost Sega?
SEGA Sammy’s March 28, 2024 release gave the following estimates in connection with the measures. They were forecasts for the fiscal year ending March 2024, not final audited results.
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| Item | Company estimate |
|---|---|
| Restructuring loss connected with the Relic share transfer | Approximately ¥4.7 billion |
| Write-down of work in progress on some European development titles | Approximately ¥5.6 billion |
| Restructuring loss connected with role reductions | Approximately ¥1.5 billion |
| Total new costs recognized as cost of sales | Approximately ¥5.6 billion |
| Total extraordinary losses | Approximately ¥6.2 billion |
The individual estimates describe specific items; the two total figures are separate accounting categories in the company’s forecast and should not be treated as additional costs to add to every item above. SEGA Sammy’s announcement
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Would Relic keep supporting Company of Heroes 3?
At the time, Relic said it would become an independent studio with help from an unnamed external investor. Contemporaneous coverage reported that the studio intended to continue supporting previously released titles, including a planned Company of Heroes 3 update. That was Relic’s stated plan at the time; it does not establish the game’s current support status. Contemporaneous industry reporting
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