A popular gaming company is now cutting 670 jobs, equivalent to 5% of its workforce, they announced on Wednesday.
EA, Electronic Arts, announced Wednesday that it will cut 5% of its workforce, part of a plan that includes reducing office space and ending work on some video games.
The popular gaming company employed 13,400 workers as of the end of March 2023, according to its most recent annual filing with the U.S. Securities and Exchange Commission in May.
That means the layoffs will affect approximately 670 jobs.
The company’s announcement marks the latest headcount reduction among video game developers in recent months, continuing a broader trend of significant downsizing across the tech industry, reports CNBC.
On Tuesday, Sony said it would also lay off about 900 employees in its PlayStation division, or 8% of its workforce.
Last month, Microsoft cut 1,900 jobs across its gaming unit three months after it acquired Activision Blizzard, and Tencent’s Riot Games slashed 11% of its workforce.
EA CEO Andrew Wilson wrote in a memo to employees on Wednesday that the video game company is “streamlining our company operations to deliver deeper, more connected experiences for fans everywhere.”
The cuts will support EA’s “strategic priorities and growth initiatives,” according to a Wednesday filing with the SEC.
The company says it expects its restructuring plan will be “substantially complete” by the end of December.
“We are continuing to optimize our global real estate footprint to best support our business,” Wilson wrote in his Wednesday note.
“We are also sunsetting games and moving away from development of future licensed IP that we do not believe will be successful in our changing industry.”
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Also Read: A New Wave of Unexpected Layoffs Now Hits Wisconsin
Other Economy News Today
This massive grocery store is now shutting its doors soon at a historic location which has operated for over 60 years.
The Giant Food store on Langston Boulevard in Arlington, Virginia will permanently close on Thursday, February 29.
Giant Food has anchored the Lyon Village Shopping Center, at 3115 Langston Blvd. (formerly Lee Highway), for more than 60 years.
It is at the intersection of Langston Boulevard and Spout Run Parkway.
“In the normal course of evaluating our business and local trade areas, we determined that we can adequately serve this community through several other nearby Giant Food locations, as well as our online services, Giant Pickup and delivery,” Giant said in an emailed statement.
The nearest Giant Food store is on Washington Boulevard in Virginia Square, about a mile away.
Lyon Village Shopping Center’s other tenants include CVS Pharmacy, burger restaurant BGR, Starbucks, The Italian Store, and Big Wheel Bikes.
Giant said all employees at the Lyon Village store are being offered transfers to other Giant locations.
A spokesperson for the grocery store made the following statement:
“In our ongoing assessment of business dynamics and local trade areas, we’ve concluded that the needs of this community can be adequately met by several nearby Giant Food locations, as well as our online services, Giant Pickup, and delivery.
We want to express our sincere gratitude to the Arlington community for their support over the 60 years that Giant Food has been a part of this neighborhood, and we look forward to welcoming our shoppers at our other local Giant Food locations.
We appreciate the work our store associates have done to serve this community, and all associates from the store are being offered the opportunity to transfer to other Giant locations.
[Furthermore] We are committed to supporting our employees through this transition and ensuring that they have continued opportunities within our company.”
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Also Read: This Massive Restaurant Is Now Closing 41 Locations
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