Something about sacking the quarter back would be gallows humour.
Baldy put in its second quarter financial results statement, Electronic Arts is to make fewer games and make 1,500 people redundant. Here's the quote:
"Cost Reduction Plan
"EA has announced a plan to narrow its product portfolio to provide greater focus on titles with higher margin opportunities.
"This action will result in the closure of several facilities and a headcount reduction of approximately 1,500 positions, of which 1,300 are included in a restructuring plan. The majority of these actions will be completed by March 31, 2010. This plan will result in annual cost savings of at least $100 million and restructuring charges of $130 to $150 million.
"EA remains committed to delivering high quality games for consumers and leading the industry in the growing digital direct gaming sector."
1,500 job losses is apparently 17% of the working people at the company.
It's understood that the facilities in question include: EA Redwood Shores, Tiburon, Mythic, and Black Box.
In terms of the portfolio cutting, EA CEO John Riccitiello said in a statement, "We are making tough calls to cut costs in targeted areas and investing more in our biggest games and digital businesses."
The company also announced a second-quarter loss of US$391 million, and that it was spending $275 million on the purchase of Playfish.
"Cost Reduction Plan
"EA has announced a plan to narrow its product portfolio to provide greater focus on titles with higher margin opportunities.
"This action will result in the closure of several facilities and a headcount reduction of approximately 1,500 positions, of which 1,300 are included in a restructuring plan. The majority of these actions will be completed by March 31, 2010. This plan will result in annual cost savings of at least $100 million and restructuring charges of $130 to $150 million.
"EA remains committed to delivering high quality games for consumers and leading the industry in the growing digital direct gaming sector."
1,500 job losses is apparently 17% of the working people at the company.
It's understood that the facilities in question include: EA Redwood Shores, Tiburon, Mythic, and Black Box.
In terms of the portfolio cutting, EA CEO John Riccitiello said in a statement, "We are making tough calls to cut costs in targeted areas and investing more in our biggest games and digital businesses."
The company also announced a second-quarter loss of US$391 million, and that it was spending $275 million on the purchase of Playfish.
Companies:
Electronic Arts
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