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…

Tags:

currentbody listed on couponmatrix.ukdr-jart listed on couponmatrix.ukillamasqua listed on couponmatrix.ukoffice-stationery listed on couponmatrix.uksheridan listed on couponmatrix.uk4-gadgets listed on couponmatrix.uk
currentbody listed on couponmatrix.ukCurrentBody is your go-to for best-selling beauty devices. Whether you’re looking to eliminate acne scarring, tone up your face and body or find long-lasting hair removal solutions, you’ve come to the right place - and with a CurrentBody discount code from us, you can save on your next purchase. Forget lotions and potions that don’t deliver results - devices from CurrentBody harness in-clinic technologies so you can enjoy salon-quality treatments at home.
dr-jart listed on couponmatrix.ukKorean skincare brand Dr Jart makes skincare goals possible. From Dr Jart masks for an instant boost of hydration to Dr Jart colour correcting creams for an even complexion, these skincare experts can help with all skin concerns—the hero we need and deserve. We’ve pulled all the Dr Jart discount codes, student offers and deals in one place, making it easy to try out best-sellers like the famous Dr Jart Cicapair Tiger Grass Cream for less!
illamasqua listed on couponmatrix.ukOffering a world-class range of beauty products, Illamasqua is a cosmetics brand you’re definitely going to love. From mascara to primer, when you want products that are going to help you truly shine, grab an Illamasqua discount code and start shopping today. Cruelty free and with an increasingly large vegan range, Illamasqua is a brand with a conscience, so when you shop you can feel as good as you look.
office-stationery listed on couponmatrix.ukWhether your office is in a skyscraper or a corner of your home, if there’s one thing that office managers know it’s that supplies are a pain! Thankfully, with an Office Stationery discount code, you’ll be able to find everything you need to keep your office running smoothly, at prices you’ll be happy to pay! With everything from top-quality posture chairs for a thousand employees to post-it notes for your 3-person team, you’ll love Office Stationery’s one-stop-shop approach for all your office needs.
sheridan listed on couponmatrix.ukSheridan is a trusted Australian retailer known for providing high-quality homewares and bedding. They offer a wide range of products at great value, and you can use a Sheridan coupon to get even more discounts on your purchase. Whether you're looking for new sheets or towels, or want to update your decor, Sheridan is a great place to shop. With a Sheridan coupon, you can save even more on your next purchase. So check out our selection of codes and start saving today!
4-gadgets listed on couponmatrix.uk4Gadgets is one of the UK's leading online retailers of mobile phone accessories and gadgets. They offer a wide range of products at great prices, and with a 4Gadgets discount code you can save even more on your purchase. Whether you're looking for a new case for your phone or some cool new gadget to keep you entertained, 4Gadgets is sure to have what you're looking for. So why not check out 4Gadgets today and see what they have to offer? You won't be disappointed. Be it refurbished or not, we at Groupon know that saving money on a smartphone is important to each and every customer seeking quality tech. That's why we work hard to find the best 4Gadgets offers to help you save on smartphone brands you know and trust, be it Samsung, Sony, Apple or Google. Whether you're looking for a code to use at checkout or some exclusive offers, we've got you covered. One of the bestselling products at 4Gadgets is the iPhone 6s Plus Case, and it's easy to see why. This case offers protection for your phone while still allowing you to show off the sleek design. Plus, with 4Gadgets voucher codes you can save even more on your smartphone case. It costs only dozens of pounds to protect your iPhone from potential damage that would cost you hundreds, so make the smart choice and give your best device the defence it deserves.