Electronic Arts is still a juggernaut of a game publisher, but this does not mean that they would always be on an upward spiral of growth. Take Apple for instance – their stock is not doing too hot in the market at this point in time, and you won’t find talk of Apple stock hitting $1,000 anytime soon, considering how its next milestone to hit would be half that amount if possible. Having said that, the curse of layoffs have hit video game publisher Electronic Arts twice in a month, where initial reports on the ground claim that there might even be a 10% layoff rate, which would translate to approximately 800 people be on the lookout for work.
It seems that this latest round of layoffs is part of a restructuring effort in order for Electronic Arts to focus on “new technologies and mobile.” This “organizational update” was addressed in a brief statement, saying, “In recent weeks, EA has aligned all elements of its organizational structure behind priorities in new technologies and mobile. This has led to some difficult decisions to reduce the workforce in some locations. We are extremely grateful for the contributions made by each of our employees – those that are leaving EA will be missed by their colleagues and friends. These are hard but essential changes as we focus on delivering great games and showing players around the world why to spend their time with us.” Bummer. Let us hope the 800 or so folks would be able to get back on their feet, and fast!
Filed in . Read more about Electronic Arts.