Electronic Arts has announced that it will cut a total of 1,000 jobs, a 4% rise on the cuts announced at the end of October.
It also plans to cut or 'consolidate' at least nine of its facilities, including its Black Box studio.
The cut will, it reckons, yield an annual saving of $120 million and restructuring charges (legal fees, redundancy pay etc.) of approximately $55-65 million over the next few financial quarters.
The publisher also re-iterated its plans to narrow its product portfolio, focussing on proven franchises with higher margins.
It wants us to know, however, that "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." Nice one, EA. Recession? What recession?
Nice timing, too.
It also plans to cut or 'consolidate' at least nine of its facilities, including its Black Box studio.
The cut will, it reckons, yield an annual saving of $120 million and restructuring charges (legal fees, redundancy pay etc.) of approximately $55-65 million over the next few financial quarters.
The publisher also re-iterated its plans to narrow its product portfolio, focussing on proven franchises with higher margins.
It wants us to know, however, that "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." Nice one, EA. Recession? What recession?
Nice timing, too.
Companies:
Electronic Arts
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