Line Games, a domestic game company under Japan's LY Corp., will carry out a voluntary resignation program for all employees amid management difficulties.
According to the game industry on the 4th, Line Games said in an in-house notice the previous day that it will accept applications for voluntary resignation from all job categories through the end of this month. Employees whose applications are accepted will receive three months of salary, and, separately, a specified amount of job-change support money.
This is seen as part of restructuring for a return to normal operations. Line Games has suffered prolonged management difficulties, posting losses for eight consecutive years since 2017. Last year's revenue was 33.5 billion won, down 22.9% from a year earlier, and operating loss came to 48.4 billion won. Weak performance of new titles is cited as a cause of the deterioration.
To improve its fundamentals, the company in Apr. appointed former chief strategy officer Bae Young-jin as co-CEO, shifting to a co-CEO system with Cho Dong-hyun and Bae Young-jin. It also appointed former Neptune CEO Yoo Tae-woong as head of the management division, embarking on an overhaul of its management control framework.