Marvelous Entertainment Asks for 20 Employees to Retire
posted on by Egan Loo
The Japanese anime, music, and game production company Marvelous Entertainment (Gunslinger Girl, Katekyo Hitman Reborn!, Mushi-Shi, School Days, Zipang) 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 compared 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.
GDH, the corporate parent of the Gonzo anime studio, had announced last November that it would institute a similar voluntary retirement program for up to 50 of its 200 employees. Only 36 employees responded to the program, and the Nihon Keizai Shimbun paper reported last month that GDH had to restructure Gonzo.
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