EA To Lay Off 1000, Closing 9 Locations >

	2008/12/19 13:17:04: Posted by DM
	EA is apparently experiencing the effects of the economy as much as the rest of us are. They will be cutting their workforce by 10%, which is just about 1000 people. Not only that, but they will be closing nine publishing and studio locations. Black Box Studios in Vancouver is one of the locations that will be shut down. Click read more for the full info. PRESS RELEASE REDWOOD CITY, Calif.—(BUSINESS WIRE)—Electronic Arts Inc. (NASDAQ:ERTS) today announced further details on a restructuring plan which will include consolidating facilities and reducing the work force. EA expects the restructuring plan will result in annual cost savings of approximately $120 million and restructuring charges of approximately $55-65 million over the next several quarters. The plan is intended to reduce EA’s worldwide work force by approximately 10 percent or 1,000 people. The majority of these actions will be completed by March 31, 2009. This represents a four percent increase from the six percent reduction EA announced on October 30, 2008. The restructuring also calls for consolidation or closure of at least nine studio and publishing locations. Among the facilities to be consolidated is the Black Box Studio facility in Vancouver, British Columbia. The Black Box development teams and associated game franchises will move to the nearby EA studio location in Burnaby, British Columbia. EA is implementing a plan to narrow its product portfolio to focus on hit games with higher margin opportunities. The company remains committed to taking creative risks, investing in new games, leading the industry in the growing mobile and online businesses, and delivering high-quality games to consumers.
	Labeled With  ea Comments [5]  | Rate this article: -- 1 2 3 4 5 6 7 8 9 10  | Be the first to rate this article

The video game industry I thought was immune to the economy, maybe it's your crappy games EA?

vote for the ea bail out

lol vote for the EA bailout. I'll never understand how these companies can be so greedy and get millions and millions of dollars to create games and then have to close up shop.

EA has turned around this gen and deserves a lot of credit.

You guys have no idea what you're talking about.

As for the topic, it's getting sad to read about all these studios closing left and right, I wish the best for them.

[lol vote for the EA bailout. I'll never understand how these companies can be so greedy and get millions and millions of dollars to create games and then have to close up shop. ]

I know what you mean, but when it comes to stock market, they have the right to close it down even if they have billions of dollar in their bank,