Electronic Arts just released a press statement sharing with the world that they had a net revenue of $1.15 Billion in the past quarter, meaning that they were the number one publisher across all platforms. After hearing that, one would believe that it’s a Heaven to be working at EA, right? Well… it probably is for those who will still be working there, since the giants plan to slash no less than 1,500 jobs in their quest to reduce operating expenses by at least $100 Million.
The press release states:
“ EA has announced a plan to narrow its product portfolio to provide greater focus on titles with higher margin opportunities.
This action will result in the closure of several facilities and a headcount reduction of approximately 1,500 positions, of which 1,300 are included in a restructuring plan. The majority of these actions will be completed by March 31, 2010. This plan will result in annual cost savings of at least $100 million and restructuring charges of $130 to $150 million.
EA remains committed to delivering high quality games for consumers and leading the industry in the growing digital direct gaming sector. “
Yep, it appears that the recession is not over yet, not even for the companies that apparently haven’t felt it yet…