EA 10% Layoff Report Confirmed [May 08, 2013, 8:26 pm ET] – Share – Viewing Comments
During a conference call with investors following its
financial reporting, EA confirmed having cut its workforce by 10%, reports
Joystiq, saying that is approximately 900 workers. An
Organizational Update
posted by EA last month revealed the cuts without
specifying the number of effected jobs, but at the time
Kotaku reported a
couple of sources told them it was 10%, so this confirms that. Joystiq says this
cost EA $16 million in severance payments.
This seemed a likely outcome given the quarterly financial report detailed yesterday here. The shares did not reflect the outcomes expected despite having an increased in revenues which met their target. Sucks for the employees that they are at the mercy of shareholders which are disproportionally held by rich individuals and investment groups rather than those in similar positions as the the affected employees.
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