EA to Cut 1,100 Jobs, Close 12 Facilities

By Olsen Ebright
|  Wednesday, Feb 4, 2009  |  Updated 12:30 PM PDT
View Comments (
)
|
Email
|
Print
EA to Cut 1,100 Jobs, Close 12 Facilities

Getty Images

July 29, 2008: In this photo provided by Electronic Arts, Tony Parker (right) of the San Antonio Spurs plays a game at the Electronic Arts studios in Burnaby, British Columbia, Canada. Parker will be the cover athlete and spokesman for NBA LIVE 09, a video game produced by Electronic Arts.

advertisement

Videogame giant Electronic Arts Inc. -- which has locations across California, including Los Angeles -- announced this week it will lay off 11 percent of its workforce (1,100 jobs) and close 12 facilities.

"Our holiday quarter came in below our expectations and we have significantly reduced our financial outlook for fiscal 2009, a clear disappointment," said John Riccitiello, Chief Executive Officer.

Chief Financial Officer Eric Brown said that the company expects $500 million of operating expense reductions in fiscal 2010.

The company also said it plans to narrow its product portfolio and cut other variable costs.

EA News Release: EA Reports Third Quarter Fiscal Year 2009 Results

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Bay Area Proud
Bay Area Proud is NBC Bay... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out