“As we drive greater focus across our portfolio, we are moving away from projects that do not contribute to our strategy, reviewing our real estate footprint, and restructuring some of our teams,” Wilson states. “These decisions are expected to impact approximately six percent of our company’s workforce.”
While Wilson doesn’t mention the specific departments that the layoffs are affecting, he says that it will provide “opportunities for our colleagues to transition onto other projects” where possible. As noted by the Journal, EA reported having about 13,000 employees last year, which means a 6 percent cut could eliminate around 780 jobs. The company already started notifying some affected workers earlier this quarter and says it expects this to “continue through early next fiscal year.”
Affected workers will receive severance pay, healthcare, and transition services. According to an 8-K form filed with the Securities and Exchange Commission, EA will incur around $170 million to $200 million in charges related to the layoffs and restructuring.
#laying #percent #workers