alfredofroylan on 23 March 2009
Even small companies are getting a bad time due the recession
The Japanese anime, music, and game production company Marvelous Entertainment has annnounced on Monday that it is asking for a number of its employees — "in the range of 20" or about 17% according to its press release — to voluntarily retire in an effort to reduce costs. As of December 31, 2008, the company employs 120 people. The employees who choose to take advantage of the program between March 23 and April 3 will receive a special severance payment. Their retirement will become effective on April 30.
Marvelous announced at the end of February that it is adjusting its estimates for the fiscal year ending in March, as a result of lower anticipated sales compare to the previous year. It projects that it will be 1.31 billion yen (US$13 million) in the red. Because of this, it reduced its employees' compensation and bonuses and cancelled exhibitions at large-scale publicity events and overseas musical performances. Director Noboru Ishiguro's Artland anime studio and the Delphi Sound music and copyrights company are subsidiaries of Marvelous Entertainment, but neither are reportedly subject to the voluntary retirement program.
Marvelous announced at the end of February that it is adjusting its estimates for the fiscal year ending in March, as a result of lower anticipated sales compare to the previous year. It projects that it will be 1.31 billion yen (US$13 million) in the red. Because of this, it reduced its employees' compensation and bonuses and cancelled exhibitions at large-scale publicity events and overseas musical performances. Director Noboru Ishiguro's Artland anime studio and the Delphi Sound music and copyrights company are subsidiaries of Marvelous Entertainment, but neither are reportedly subject to the voluntary retirement program.
In certain way it isn't that bad, some other companies like Midway are getting worse.
