Nintendo Lays Off 130 In Europe As Industry Prepares For E3
Nintendo has announced layoffs in Europe and plans to close its Großostheim, Germany, office. The company confirmed the cuts, which will see part of its European operations consolidated.
The publisher confirmed the cuts to GamesIndustry, indicating that approximately 130 permanent employees will be cut. The Großostheim operations will be taken over by the Frankfurt, Germany, office. Some of the affected positions will see employees let go in Frankfurt, as well.
"The intended measures will sadly have a direct effect on some of the employees based in the Großostheim and Frankfurt offices in Germany and would lead to the release of approximately 130 permanent employees," Nintendo told GamesIndustry.
Nintendo, which still maintains a strong financial position, has fallen on harder times of late with over $1 billion in net losses for the last three years. Wii U sales remain sluggish, though the impressive release of Mario Kart 8 could turn things around over the long-term.
The timing on this is pretty awful, as it was when THQ did the same thing two years ago. It’s a shame that this has to be done at all, but doing so right before a major industry event stings.