“As we drive better focus throughout our portfolio, we’re shifting away from initiatives that don’t contribute to our technique, reviewing our actual property footprint, and restructuring a few of our groups,” Wilson states. “These choices are anticipated to impression roughly six p.c of our firm’s workforce.”
Whereas Wilson doesn’t point out the precise departments that the layoffs are affecting, he says that it’s going to present “alternatives for our colleagues to transition onto different initiatives” the place potential. As famous by the Journal, EA reported having about 13,000 staff final 12 months, which suggests a 6 p.c minimize may remove round 780 jobs. The corporate already began notifying some affected employees earlier this quarter and says it expects this to “proceed by early subsequent fiscal 12 months.”
Affected employees will obtain severance pay, healthcare, and transition providers. In line with an 8-Okay kind filed with the Securities and Trade Fee, EA will incur round $170 million to $200 million in prices associated to the layoffs and restructuring.
