Gaming giant Electronic Arts is slashing 17% of it's staff in an
attempt to save over $100 million annually. The news was part of a
href="http://news.ea.com/portal/site/ea/index.jsp?ndmViewId=news_view&ndmConfigId=1012492&newsId=20091109006515&newsLang=en"
target="_blank">press release
that also touted a record profit of $1.15 billion dollars for the
second quarter of 2009.
From the press release:
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 remains committed to delivering high quality games for consumers and
leading the industry in the growing
digital direct gaming sector.
We will keep an eye on this in the weeks to come as the final details
emerge.
