Sega is set to reduce its workforce by 18%, which represents approximately 560 jobs. Edge reports that if all goes according to plan, Sega may only see a one-time loss of ¥4 billion ($43.8M), with an annual savings of ¥5 billion ($54.8M). The company also plans to close 110 amusement facilities, along with reducing research and development by 20???%.

It is unclear whether Sega's axing of 560 jobs includes the 30 Sega America staff let go last month. Sega revealed that it lost $119 million in the first three quarters of the fiscal year, with full year expectations not looking any brighter. We'd shed some tears out of empathy over these latest layoffs, but apparently tears are currently sold out and on backorder in this economy.

This article was originally published on Joystiq.

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