EA Lowers Financial Outlook - Jobs/Products To Be Cut
Yesterday we reported that EA May Need to Cut Jobs in Upcoming Months due to poor holiday sales performance. Well now EA has made it official that some changes will be coming to the major Publisher and Developer. Read More:
The last time EA cut jobs was in October where 600 EA employees found themselves without work. What games do you hope to see the mega publisher developer cut? Or Keep for sure? Let us know.
Yesterday we reported that EA May Need to Cut Jobs in Upcoming Months due to poor holiday sales performance. Well now EA has made it official that some changes will be coming to the major Publisher and Developer. Read More:
Electronic Arts today announced that it expects net revenue and earnings per share for fiscal year 2009 to be below the financial guidance previously provided on October 30, 2008. The revised expectations are primarily the result of lower than expected sales across North America and Europe. The Company does not expect to provide updated financial guidance for fiscal 2009 prior to reporting its third quarter results in early February 2009.
The Company is continuing to pursue cost saving initiatives including a reduction of its product portfolio for fiscal year 2010 with additional associated headcount reductions and facility consolidations.
“While we saw significant improvement in the overall quality of our key products this year, we are disappointed that our holiday slate is not meeting our sales expectations,” said John Riccitiello, Chief Executive Officer. “Given this performance and the uncertain economic environment, we are taking steps to reduce our cost structure and improve the profitability of our business.”
Mr. Riccitiello added, “While we are cutting costs, we remain committed to investing in great game quality, in new properties and in our direct-to-consumer initiatives. We will be launching several new titles and online games in fiscal 2010.”
The Company is continuing to pursue cost saving initiatives including a reduction of its product portfolio for fiscal year 2010 with additional associated headcount reductions and facility consolidations.
“While we saw significant improvement in the overall quality of our key products this year, we are disappointed that our holiday slate is not meeting our sales expectations,” said John Riccitiello, Chief Executive Officer. “Given this performance and the uncertain economic environment, we are taking steps to reduce our cost structure and improve the profitability of our business.”
Mr. Riccitiello added, “While we are cutting costs, we remain committed to investing in great game quality, in new properties and in our direct-to-consumer initiatives. We will be launching several new titles and online games in fiscal 2010.”
The last time EA cut jobs was in October where 600 EA employees found themselves without work. What games do you hope to see the mega publisher developer cut? Or Keep for sure? Let us know.
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