Only part of these rumors appears to be true. Senior Director of Public Relations Riley Brennan has told Massively that the layoffs did occur for restructuring purposes but that the workforce reduction will have no impact on the company's online titles, though we don't still don't know which titles or departments were affected.
In order to ensure it is operating effectively, the Square Enix Los Angeles office has reduced its workforce. This was a difficult decision and we wish the best for those affected by these changes. The decision will not have any impact on the operations of MMO titles. Customers can expect those services to continue, including the upcoming launch of Final Fantasy XIV: A Realm Reborn.While we're certainly happy to hear that our games will continue to operate without incident, our best wishes go out to those affected by this round of layoffs.
[Thanks as always to our anonymous tipsters!]