Electronic Arts to Shut Down 12 Offices

Category: News Archive

Hits: 713

Written by BuckGB on February 3rd, 2009

Tweet

(Our holiday quarter came in below our expectations and we have significantly reduced our financial outlook for fiscal 2009, a clear disappointment,) said John Riccitiello, Chief Executive Officer. (We delivered on game quality and innovation in calendar 2008, with 13 titles rated 80 or above -- more than any third-party publisher. We expect to build on this great quality record in the year ahead while delivering more profitability.)

As a part of an overall cost reduction program, the Company is reducing its workforce by approximately 11%, or 1,100 people, closing 12 facilities, narrowing its product portfolio and cutting other variable costs. The Company expects to incur total restructuring charges, including severance and facility closures, of $65 to $75 million, which will be recorded over the next twelve months.
(...)
Warhammer® Online: Age of Reckoning®, an MMO from EA's Mythic Entertainment studio, ended the quarter with over 300K paying subscribers in North America and Europe.

• Prev
• Next