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…