An Electronic Arts (EA) video game logo is seen at the Electronic Entertainment Expo
Lucy Nicholson | Reuters
Electronic Arts is cutting about 800 jobs, or 6% of its workforce, and reducing office space, the video game company said Wednesday.
The company expects to take impairment charges ranging from $170 to $200 million, according to an SEC filing.
“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,” CEO Andrew Wilson wrote in a note to employees. Layoffs are “the most difficult part, and we are working through the process with the utmost care and respect,” he wrote.
EA expects the actions associated with the restructuring plan will be “substantially complete” by the end of September.
Wilson said EA would provide severance and healthcare to affected employees, noting that layoffs had begun earlier in the quarter.
EA had just under 13,000 employees, according to a quarterly filing in March 2022.
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