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Note what Iwata said before:

Nintendo chief Satoru Iwata had spoken out against layoffs in the past. "If we reduce the number of employees for better short-term financial results, employee morale will decrease," he said during an investor call in July of 2013. "I sincerely doubt employees who fear that they may be laid off will be able to develop software titles that could impress people around the world."

They barely have any developers in Europe so I doubt they care as much. If they were developers and creative leaders, the restructure probably wouldn't have affected them. The actual game developers shouldn't have to worry.

This obviously sucks for the people that lost their jobs though.