Path: chuka.playstation.co.uk!news From: "Mike Hatfield" Newsgroups: scee.yaroze.freetalk.english Subject: Sega in trouble... Date: Fri, 30 Apr 1999 09:55:21 +0100 Organization: PlayStation Net Yaroze (SCEE) Lines: 21 Message-ID: <7gbrdm$ftl7@chuka.playstation.co.uk> NNTP-Posting-Host: mail.ridgeway-sys.com X-Newsreader: Microsoft Outlook Express 4.72.3155.0 X-MimeOLE: Produced By Microsoft MimeOLE V4.72.3155.0 http://www.wired.com/news/news/business/story/19379.html "TOKYO -- Sega Enterprises forecast a gaping annual loss and admitted that its dream of toppling rival Sony's PlayStation remained elusive. "On Wednesday, Sega said it had an estimated consolidated net loss of ¥45 billion (US$378 million) in the year ended 31 March, due largely to write-offs from its overseas amusement facility operation and unsold inventories of its 32-bit Sega Saturn game consoles. [...] "To help restore profitability, Sega said it would cut 25 percent of its work force, or about 1,000 workers, partly through voluntary retirements, by as early as March 2000. "Sega also plans to close 100 small game arcades in 1999 and cut executive jobs and salaries."