"Electronic Arts Announces Layoffs and Shift Towards 'Owned IP' Focus"
TL;DR Summary
Electronic Arts is laying off 5% of its workforce, affecting around 670 employees, as part of a shift away from developing future licensed IP and a focus on owned IP, sports, and massive online communities. The company expects to spend $125 million to $165 million on these layoffs and other cost-cutting measures. This comes after EA's recent financial results showed a net bookings increase of 1% year-over-year, with live services accounting for 73% of its business. Unfortunately, EA is not alone in the trend of increasing video game industry layoffs, with other companies also announcing significant staff reductions.
- Electronic Arts laying off 5% of workforce to focus on ‘owned IP’ Polygon
- EA to Lay Off Around 670 Workers, Sunsetting Games, 'Moving Away From Future Licensed IP' IGN
- Electronic Arts, maker of Madden NFL, to lay off 5% of staff as gaming industry layoffs widen CNN
- Electronic Arts to Slash About 5% of Workforce The Wall Street Journal
- EA cutting "small number" of staff as it sunsets two mobile games GamesIndustry.biz
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