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EA confirms staff layoffs and restructuring, 10% of all EA staff have been laid off

EA chops 900 jobs from the company in a major restructuring effort

| Business, Financial & Legal News | Posted: May 9, 2013 10:27 am

EA took some time during their recent earnings call to announce that they have laid off around 900 workers, with Blake Jorgensen, Vice President of EA saying: "Our cost reduction plans will reduce our overall headcount by approximately 10 percent".

 

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Jorgensen continued, saying that the restructuring plan and resignation of CEO John Riccitello cost the company around $15 million more than they had estimated in their recent estimate guidance. He also added that they're working toward achieving a 20% operating margin, which is a goal within reach after the layoffs.

NEWS SOURCES:Theverge.com

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