In a move to "cut costs" EA has laid off 1,500 employees from a number of locations. The news comes from a press release detailing the second quarter fiscal situation of the company.
Best of luck to all of those affected by this batch of layoffs. It seems as though the floundering economy has struck again.
Cost Reduction Plan
EA has announced a plan to narrow its product portfolio to provide greater focus on titles with higher margin opportunities.
This action will result in the closure of several facilities and a headcount reduction of approximately 1,500 positions, of which 1,300 are included in a restructuring plan. The majority of these actions will be completed by March 31, 2010. This plan will result in annual cost savings of at least $100 million and restructuring charges of $130 to $150 million.
EA has announced a plan to narrow its product portfolio to provide greater focus on titles with higher margin opportunities.
This action will result in the closure of several facilities and a headcount reduction of approximately 1,500 positions, of which 1,300 are included in a restructuring plan. The majority of these actions will be completed by March 31, 2010. This plan will result in annual cost savings of at least $100 million and restructuring charges of $130 to $150 million.
Best of luck to all of those affected by this batch of layoffs. It seems as though the floundering economy has struck again.
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