EA is laying off 6 percent of its employees

“As we drive greater focus across our portfolio, we’re moving away from projects that don’t contribute to our strategy, reviewing our real estate footprint and restructuring some of our teams,” says Wilson. “These decisions are expected to affect approximately six percent of the company̵[ads1]7;s workforce.”

While Wilson doesn’t name the specific departments the layoffs affect, he says it will provide “opportunities for our colleagues to transition to other projects” where possible. As noted by Journal, EA reported having about 13,000 employees last year, meaning a 6 percent cut could eliminate about 780 jobs. The company already began notifying some affected workers earlier this quarter and says it expects this to “continue through early next fiscal year.”

Affected workers will receive severance pay, health care and transition services. According to an 8-K form filed with the Securities and Exchange Commission, EA will incur about $170 million to $200 million in costs related to layoffs and restructuring.

Source link

Back to top button