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EA Increases Layoff Figures
Video game developer/publisher Electronic Arts Inc. today announced further details on a restructuring plan, which will include consolidating facilities and reducing the work force by approximately 10%. Roughly 1,000 people are expected to lose their jobs, most of them by March 31. That’s a 4% increase from the original reduction figure announced by EA on Oct. 30.
The restructuring also calls for consolidation or closure of at least nine studio and publishing locations. One of the facilities to be absorbed 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 expects the move to result in annual cost savings of approximately $120 million and restructuring charges of approximately $55 to $65 million over the next several quarters. The company is implementing a plan to narrow its product portfolio to focus on hit games with higher margin opportunities. A press release issued today says 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.’