EA is posting a $641 million dollar loss for the Quarter ending in December 2008. This is the eight quarter where EA has posted a net loss and a huge drop over the same quarter last year ($33 Million).
To combat this loss EA will be closing 12 facilities and reduce the work force by as much as 11%. EA hopes to reduce operating costs by as much as $500 Million for FY 2010.
EA says that while they suffered a loss they still produced great quality games claiming they had better products than any third party publisher.
Of course the issue could be EA's instance in using game breaking DRM schemes to control their games. Spore, which should have been a landslide game instead became the most downloaded game of 2008.