On March 28, 2024, SEGA Sammy announced two linked restructuring measures: a planned transfer of all shares in Relic Entertainment and reductions of approximately 240 roles across several European bases. Sega cited lower European profitability amid a post-pandemic decline in stay-at-home demand and an inflation-related economic downturn. The announced figure is approximate, not a verified final headcount.
What did Sega announce?
SEGA Sammy’s board resolved the measures on March 28, 2024, as part of a broader structural reform. The company said it would transfer all shares in Relic, then a consolidated subsidiary owned through SEGA Europe, and reduce approximately 240 roles at several European bases to optimize fixed expenses. It also cited a review of its development lineup and investment efficiency. SEGA Sammy’s announcement describes the transfer as planned for March 28; that announcement alone does not establish whether it was completed or who owns Relic today.
| Measure | Scope | What Sega disclosed |
|---|---|---|
| Relic share transfer | All shares in one studio subsidiary | Planned transfer to a holding company to be newly established by Emona Capital LLP; transfer value and further details withheld at the transferee’s request. SEGA Sammy, March 28, 2024. |
| Role reductions | Several European bases | Approximately 240 roles; the release does not provide a final count or a full studio-by-studio breakdown. SEGA Sammy, March 28, 2024. |
Why did Sega sell Relic?
SEGA Sammy said profitability had fallen as the consumer-games business faced a reactionary decline from COVID-era stay-at-home demand and an economic downturn linked to inflation. The company characterized the sale and role reductions as structural reform to respond to that environment; this is Sega’s stated rationale, not an independent finding about the whole games industry.
The March announcement also referred to approximately 250 roles already reduced after European project cancellations in September 2023. That earlier reduction is separate from the approximately 240 roles announced in March 2024.
#1 Best Overall
- 3 GAME SLOT: Includes 3 built-in cartridge slots that are compatible with Original Sega Genesis, Original NES and Original SNES games
- HD PLUS: Experience your old classics in 720P clarity!
- UNMATCHED COMPATABILITY: Trio is ranked #1 is compatability with original cartridges. Best selling Retro Console year after year.
- ACCESSORY COMPATABILITY: Dust off and bring out your old accessories. The Retro Trio is compatible with original NES, SNES and Genesis controller port accessories!
How many Sega workers were laid off, and where?
The official announcement gives a total of approximately 240 roles across several European bases. It does not confirm an exact final headcount. Contemporaneous reporting said most cuts were expected at Creative Assembly and Sega Europe, with a smaller number at Sega HARDlight, but that breakdown was not included in the company’s release. Eurogamer’s contemporaneous report is the source for those studio-specific expectations.
Who was buying Relic Entertainment?
Sega identified the buyer vehicle as a holding company to be newly established by UK investment company Emona Capital LLP. It withheld additional details at the transferee’s request and did not disclose the transfer value. The March 28, 2024 release stated that the transfer was planned for that date; it does not by itself confirm completion or current ownership.
Rank #2
- Experience the classic era of 16-bit gaming in a streamlined, compact console design MK-1631.
- Console unit, one Sega Brand controller, AC power adapter, and A/V cable for TV connection
- The perfect choice for retro enthusiasts, offering a robust and reliable platform for SEGA's legendary catalog of games.
Would Relic keep supporting Company of Heroes 3?
Relic developed Company of Heroes 3. In contemporaneous coverage, the studio said it would become independent with help from an unnamed external investor and planned to continue supporting previously released games, including an upcoming update for Company of Heroes 3. That was Relic’s stated plan at the time, not confirmation of its current support schedule. Eurogamer reported the studio’s statement.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What financial impact did Sega forecast?
In its March 2024 announcement, SEGA Sammy forecast approximately ¥4.7 billion in restructuring losses in connection with the Relic share transfer, approximately ¥5.6 billion for writing down work in progress on some European development titles, and approximately ¥1.5 billion from the role reductions. The company estimated total new costs of approximately ¥5.6 billion as cost of sales and ¥6.2 billion in extraordinary losses for the fiscal year ending March 2024. These were forecasts in the announcement, not final audited results. SEGA Sammy’s release provides the figures.
Recommended Free Tools
Quick Recap
Best Value
- Officially licensed Atari titles. Titles include Asteroids, Centipede, Millipede, Breakout, Missile Command, Crystal Castles and many more. Game save options.
- Packed with over 200 built-in Atari games + bonus titles. Pac-Man & Galaga not included. Full Game list listed below.
- Includes Atari console, games instructions, 2 wireless joysticks, USB power cable, HDMI cable, and user manual. System connects directly to TV.
- Includes two 2.4 GHz wireless joysticks, inspired by the original Atari joysticks, include paddles for paddle games like Breakout, Warlords and many more.
- User Guide Languages: English, French, Spanish, Italian, Portuguese, German, Dutch, Japanese and Arabic. Dynamic RGB LED lights.
Rank #4
- 3-in-1 Retro Console: Compatible with NES, Super NES, Super Famicom, and Genesis/Mega Drive cartridges—play thousands of original classics on one system.
- HD Ready: Enjoy your favorite retro games in crisp 720p via HDMI; toggle between 4:3 and 16:9 aspect ratios for the perfect nostalgic feel.
- EverDrive Support: Fully compatible with most EverDrive and reproduction cartridges—expand your library and keep your originals safe.
- Includes 2 Controllers: Comes with two premium Hyperkin controllers for instant multiplayer action; console also supports original NES, SNES, and Genesis controllers.
- Classic Meets Modern: AV-compatible for CRT setups and HDMI-ready for modern TVs—perfect for collectors, streamers, and retro enthusiasts alike.
Rank #3
- Compatible with Nintendo Entertainment System game cartridges (Games sold Separately)
- Compatible with Super Nintendo game cartridges (Games sold Separately)
- Compatible with Sega Genesis game cartridges (Games sold Separately)
- Plays in Crisp 720P
- Region free so you can play any cartridge from anywhere in the world
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
