Electronic Arts Trims 6% of Its Workforce as Part of A Restructuring …

Video game company headquartered in Redwood City, California, Electronic Arts (EA) has announced plans to trim its workforce by 6%, which is equal to about 800 jobs, as part of its restructuring plan. The company also announced plans to move away from certain projects and reorganize certain teams as it aims to reduce its office space. According to the company’s CEO Andrew Wilson, he disclosed via a press release that the upcoming layoff implementations were communicated to employees at the beginning of the company’s current quarter.

Join Tekedia Capital Syndicate which begins April 8, 2023, and own a piece of Africa’s finest startups.

By joining, you attend Tekedia Venture Investing and Portfolio Management program at no additional cost. John here. Tekedia Mini-MBA (June 5 – Sept 2 2023) opens NEW registrations; beat early bird deadline of March 31 for discounts by registering here

In a note to employees, he wrote, 

“As we drive greater focus across our portfolio, we are moving away from projects that do not contribute to our strategy, reviewing our real estate footprint, and restructuring some of our teams. These decisions are expected to impact approximately six percent of our company’s workforce. This is the most difficult part, and we are working through the process with the utmost care and respect.

Where we can, we are providing opportunities for our colleagues to transition onto other projects. Where that’s not possible, we are providing severance pay and additional benefits such as health care and career transition services.”

EA, which had about 12,900 staff at the end of March last year, expects to incur between £170 million and £200 million in charges related to the restructuring. The game sector has grown over the past decade, culminating in an explosive boom during the pandemic.

Combined sales of games, consoles and subscriptions totalled a whopping £191bn globally in 2021. However, following the uncertain economy, video game sales so far this year were flat and spending on video game content across platforms is down at 2%. Mobile gaming has typically offset the losses in console and PC gaming and has been the largest and fastest-growing sector in the industry for years.

But this year’s decline marks a surprising downturn for mobile.

Mobile game spending in the U.S. continues to decline as consumers contend with both economic uncertainties and a new post-pandemic normal. Electronic Arts had to lower its annual bookings forecast in January after it delayed the release of a game based on the “Star Wars” franchise. Also, video game publishers are struggling with a slowdown in player spending in the face of decades-high inflation, a change in fortunes from the significant growth witnessed during the covid pandemic.

Game software company Unity Software Inc., Tencent Holdings Inc.’s Riot Games, and Israeli gaming company Playtika Holding Corp. have all laid off a part of their workforce, but EA’s cuts are the biggest in 2023.

Other companies that have laid off large numbers of employees due to the uncertain economy, include Take-Two Interactive, Meta, twice, Google, Microsoft, and Amazon.

Share this:

Like this:

Like Loading…

coinbase listed on couponmatrix.ukmade-com listed on couponmatrix.uknational-forest-adventure-farm listed on couponmatrix.ukshuperb listed on couponmatrix.ukspaseekers listed on couponmatrix.ukvitabright listed on couponmatrix.uk
coinbase listed on couponmatrix.ukBe you a Bitcoin billionaire or a cryptocurrency novice, Coinbase provides the means and resources to have full awareness of the digital currency market. Providing you with accessible tools to earn, trade and transfer hundreds of different cryptocurrencies online, all a customer needs is a Coinbase promo code to ensure they’re getting optimal conversion rates on their next trade. With daily price updates, frequent cryptocurrency news and a range of tutorials to get even the most oblivious newcomer acquainted with the basics, Coinbase is the crypto marketplace of choice.
made-com listed on couponmatrix.ukFrom the wallpaper adorning your living room to the sofa as its centrepiece, Made.com is there to offer immaculate and affordable furnishings for every element of your home. Whether you’re redecorating or moving in, you’ll want a Made discount code to ensure you’re getting well-designed furniture at an unbeatable price. When you need a new indoor plant or a replacement dog bed for your favourite mutt, you can trust Made.com to deliver the quality you and your home deserve.
national-forest-adventure-farm listed on couponmatrix.ukNational Forest Adventure Farm is a fun-filled day out for all the family. With specialist areas for under-5s, space for kids big and small, plus a wonderful café for grown-ups, there’s something for everyone at National Forest Adventure Farm. For a day so full of play your kids won’t even realise they’re learning, grab your National Forest Adventure Farm discount code to save on a fantastic day out. Come rain or shine, there’s plenty of farmyard friends and activities to see and do all year round, so go visit!
shuperb listed on couponmatrix.ukYou can stride with pride whenever you shop with Shuperb, the family-led shoe store with generations of expertise. Whether you ‘re looking for wellies to tackle your favourite walks or some sandals to flash on the sand, use a Shuperb discount code and slide into your ideal footwear for a fraction of the price. With brands you know and love like UGG, Rocket Dog and Harley Davidson, there’s a style to match every strut at Shuperb.
spaseekers listed on couponmatrix.ukAdd a healthy dose of self-care to your to-do list and book a sublime spa break with the health and leisure experts at SpaSeekers. Whether you’re in desperate need of a weekend away with the girls or want to treat that certain special someone to a romantic package for two, a spa seekers discount code will help you pamper yourself to perfection. Escape from the daily grind with a soothing massage or champagne-fuelled jacuzzi session - book yourself into a SpaSeekers experience today!
vitabright listed on couponmatrix.ukLive life to the fullest with VitaBright, the high-quality health supplement brand made in Britain. VitaBright makes supporting your health simple – whether you’re focusing on bones and teeth, brain and memory, energy, heart health or sleep and relaxation. VitaBright’s supplement selection includes B12, collagen, biotin, turmeric and hyaluronic acid, which are both affordable and packed with the most effective ingredients. You can use a VitaBright discount code from Groupon to save at one of the nation’s favourite supplement brands, and you’ll enjoy free delivery when you spend just £30 online.