Electronic Arts Cuts 6% of Its Workforce in Video-Game Slump

March 29, 2023, 9:17 PM UTC

Electronic Arts Inc.will let go of about 6% of its workers as part of a restructuring plan and take charges of as much as $200 million in a challenging year for the video-game industry.

The Redwood City, California-based company’s charges include as much as $70 million for intellectual property impairment, $65 million for employee severance and $65 million in office-space reductions and other expenses, according to a regulatory filing Wednesday. EA employed about 12,900 people globally at the end of its last fiscal year.

“As we drive greater focus across our portfolio, we are moving away from projects that do not contribute ...

Learn more about Bloomberg Law or Log In to keep reading:

See Breaking News in Context

Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.

Already a subscriber?

Log in to keep reading or access research tools and resources.