- Electronic Arts said on Wednesday it is laying off 6% of its workforce and reducing office space.
- “As we focus our portfolio, we are moving away from projects that don’t contribute to our strategy,” CEO Andrew Wilson wrote in a note to employees.
An Electronic Arts (EA) video game logo is on display at the Electronic Entertainment Expo
Lucy Nicholson | Reuters
Electronic Arts is cutting about 800 jobs, or 6% of its workforce, and reducing office space, the video game company said Wednesday.
The company expects to take impairment charges of $170 to $200 million, according to an SEC filing.
“As we focus our portfolio, we are moving away from projects that don’t contribute to our strategy, we are reviewing our real estate footprint and we are restructuring some of our teams,” CEO Andrew Wilson wrote in a note to associates. Layoffs are “the hardest part, and we go through the process with the utmost care and respect,” he wrote.
EA expects the actions related to the restructuring plan to be “almost complete” by the end of September.
Wilson said EA would provide severance pay and health care to affected employees, noting that the layoffs had begun earlier in the quarter.
EA had just under 13,000 employees, according to a quarterly filing in March 2022.
This is the latest news. Check back later for updates.
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