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Square revises its profit forecast amidst layoffs 

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Square Enix has lowered its first-half profit forecast by 65 percent to ¥2.6 billion ($28.4 million) following a round of layoffs.

Blaming numerous "special factors" for the revision, the current exchange rate and premium severance packages for staff that were laid off were also to blame.

Net income for its financial year ending March 31, 2010 was lowered 33 percent, from ¥15 billion to ¥10 billion with most severance packages being absorbed during the first half.

Things are expected to look more positive once Final Fantasy XIII is released in Japan on December 17.

Via GI.biz.

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Stephany Nunneley-Jackson

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Stephany is VG247’s News Editor, with 22 years experience (with 15 of them at VG247). With a brain that lacks adhesive ducks, the ill-tempered, chaotic neutral fembot does her best to bring you the most interesting gaming news. She is also unofficially the site’s Lord of the Rings/Elder Scrolls Editor.

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