Electronic Arts to Cut 6% of Staff; Posts Q2 Loss of $310 Million

Authored by Mark Hefflinger on October 30, 2008 - 11:25am.

Redwood City, Calif. - Video game developer and publisher Electronic Arts (NASD: ERTS) announced on Thursday that it will cut 6% of its staff, or nearly 600 employees, in a move the company says will generate $50 million in annual savings.

The company posted a $310 million loss for its fiscal second quarter, while net revenue grew 40% to $894 million.

EA credited its sales increase to popular titles including "Madden NFL 09," "Spore" and "Warhammer Online."

Gamasutra reports that the layoffs will affect studios including EA Los Angeles and Pandemic, while EA spokesperson Mariam Sughayer told the site that they are "a global reduction, not just focused on one studio or one location."

http://www.gamasutra.com/php-bin/news_index.php?story=20893

http://snipurl.com/4uwjf (GameDaily)