Electronic Arts is cutting about 800 jobs, or 6% of workforce, and reducing office space
Publishing timestamp: 2023-03-29 16:52:38
Summary
Electronic Arts is laying off 6% of its workforce, which is equal to about 800 jobs, and reducing office space. The company is moving away from projects that do not contribute to its strategy and expects to take impairment charges ranging from $170 to $200 million. The restructuring plan is expected to be substantially complete by the end of September. EA joins a long list of tech companies that are in downsizing mode due to the economic downturn and market reversal.
Sentiment: NEGATIVE
Tickers: EA,
Keywords: personnel, breaking news: technology, labor economy, electronic arts, business news,
Source: https://www.cnbc.com/2023/03/29/ea-laying-off-6percent-of-workforce-reducing-office-space.html