February 3, 2009

EA Misses Street Expectations, Cuts 1,100 Jobs

According to CNBC: “Electronic Arts, based in Redwood City, California, said it would cut 1,100 jobs, or about 11 percent of its workforce, higher than the 1,000 it announced in December. It also plans to close 12 facilities as it narrows its product portfolio.”

~News submitted by upthecreek

December 19, 2008

Electronic Arts will cut 1,000 jobs, shut 9 development studios

According to Forbes: “The video game maker will eliminate 1,000 jobs and close a development studio.”
“Due to weaker-than-expected sales of its titles during the holiday shopping season, EA is increasing its layoffs to 10.0% of its worldwide workforce, eliminating 1,000 jobs; this is an expansion on its plan to reduce headcount by 6%, first announced in October.

Update: According to “EA is hoping to save about $120 million from the cuts, which will include the closing of at least nine studios.”

December 10, 2008

Electronic Arts (EA) to cut more than 6% of its workforce

According to CNNMoney: “EA the electronics gaming company based in Redwood City, Calif., announced staff reductions Tuesday as it lowered earnings guidance for fiscal year 2009. The company’s stock plunged about 15% on the news.”

The company is moving forward with plans, originally announced in its quarterly earnings report on Oct. 30, to reduce 6% of its workforce. The company had 9,000 full-time workers, including 5,100 outside the U.S., according to its annual report on March 31. Based on that, the company plans to cut some 450 jobs.”

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