It's bad news for 1,500 employees at Electronic Arts.
The company announced plans today for a "headcount reduction" (read: layoffs) of roughly 1,500 employees by March 2010. It will also result in the closing of several facilities. It's unclear what facilities are affected. EA claims the restructuring will provide about $100 million in cost savings.
The news comes on the heels of EA's acquisition of PlayFish.
“EA is performing well, with quality, sales and segment share up so far this year,” said EA CEO John Riccitiello in the company's quarertly financial release. “We are making tough calls to cut cost in targeted areas and investing more in our biggest games and digital businesses.”
More details about the cuts should be made available during EA's financial call this afternoon.
If you're an employee affected by these changes, feel free to get in touch with me.