US manga and animation publisher Viz Media announces that it is “refining its focus and restructuring to adjust to changing industry and financial market realities.”
Publishers Weekly is reporting the changes in somewhat harsher tones, noting “that as many as 55 people were laid off at Viz’s San Francisco headquarters and it appears its small New York office, which had about five staffers, has been closed. The number of staff released represents about 40% of the employees at Viz Media.”
Viz does admit that the “restructuring was not insignificant; however, this was primarily an internal reprioritization to build toward our future.”
The company did take pains to say they “remain committed to their obligations to their wonderful fans.” Further, they “have no plans at this time for drastic measures such as product cancellations or business line closures.”
PW attributes the move to an industry-wide slow-down, saying “After years of booming sales, the US manga industry seems to have hit the wall. While the category is still one of the largest in the graphic novel market, overall sales declined by 20% in 2009… the second year in a row in which manga sales declined.”