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Sega Reducing Director’s Compensation, Offers Voluntary Retirement

In a sign to some that this is not America, Sega Sammy have announced that in part due to major losses during this fiscal year, the company are offering making some changes.

The company are offering a Call for Voluntary Retirement of Employees. This is eligible to full-time and contract employees of their Group Companies. It would offer “Payment of extraordinary retirement allowances and reemployment support for applicants.”

In addition, compensation of Director of the Board and executive officers within Sega Sammy and some Group Companies will be reduced. These cuts range from 5%-30% of their monthly base salaries.

Those who will be taking pay cuts include the following:

The Company Representative Director: 30% of the monthly base salary Senior Executive Vice President, Director of the Board: 20% of the monthly base salary
Senior Vice President, Director of the Board: 10% of the monthly base salary

Group Companies Representative Director, Executive Director of the Board: 10-20% of the monthly base salary
Director of the Board: 5-10% of monthly base salary

Sega Sammy has taken a major hit thanks to COVID-19. The company posted a 3 billion yen loss from April-September 30. During this time, all departments with the exception of video games department posted losses.

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