A drastic and sweeping restructure is underway at Sega as the publisher attempts to "drastically improve profitability," with more than 300 jobs at risk, a headquarter relocation underway, and a new focus away from games consoles.Sega issued a notice to investors on Friday explaining that it expects to make just $34 million in net profit by the end of the financial year; a nosedive in performance compared to the $260 million it made the year prior.Around 300 staff are scheduled to be made redundant, while Sega's San Francisco headquarters will be relocated--likely by summer--to southern California.[Update: Sega Europe has issued a statement to GameSpot suggesting that its development teams, such as Sports Interactive and The Creative Assembly, might not be affected by the consultation process.