Redwood City, Calif. - Video game developer and publisher Electronic Arts (NASD: ERTS) said on Tuesday that it would lay off 1,100 employees, or about 11% of its staff, instead of the 1,000 cuts it announced in December, and also delayed the release of three upcoming titles as part of further cost-cutting initiatives.

EA said it will postpone the release of "Sims 3," "Godfather 2" and "Dragon Age" into fiscal year 2010, as well as further consolidate its product portfolio.

Reuters noted that EA posted weaker-than-expected fiscal third quarter results, but shares rose 6.7% when the company's 2010 outlook was better than had been anticipated.

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http://tinyurl.com/bnk6dr (Reuters)