News PW: Viz Media Lays Off Up to 60, Closes NY Branch (Updated)
posted on 2010-05-11 19:59 EDT by Egan Loo
The Publishers Weekly trade magazine reports that the North American manga and anime publisher Viz Media has laid off up to 55 people at its San Francisco headquarters and closed its New York branch, which had five employees. According to the magazine, the layoffs represents about 40% of the publisher's workforce. Viz confirmed the layoffs with Publishers Weekly on Tuesday, but not the number of layoffs.
Viz restructured with a round of layoffs in February of 2009.
Update: More background information added.
Update 2: Viz released the following statement:
Viz Media is in the process of refining its focus and is restructuring to adjust to changing industry and financial market realities.
As part of the restructuring the company had to refine its workforce by eliminating certain positions and making cuts in other areas.
We are of course saddened by these departures, and sincerely appreciate the hard work, passion and dedication of those that have moved on, but we feel confident that with these changes Viz Media will be more streamlined and able to withstand the climate of the economy at this time.
This restructuring was not insignificant; however, this was primarily an internal reprioritization to build toward our future. We wish to apologize to our wonderful fans if this news has caused you concern. Be assured Viz Media remains committed in its obligations to you. We have no plans at this time for drastic measures such as product cancellations or business line closures. Your favorite series are not going away.
this article has been modified since it was originally posted; see change history