EA to lay off over 500 workers

It may be “Game Over” for 500 to 1,000 employees of Electronic Arts (EA) as they get laid off by the game publisher, an entrepreneur-oriented site reported this week.

 

StartupGrind.com said it confirmed from multiple sources in EA that the 1,000 may represent five to 11 percent of the company’s total employees.

 

“The layoffs were originally set for last Monday (April 9), but they were pushed back and we’ve confirmed they’re coming very soon,” it said.

 

It noted EA has had a rough year so far, with its “Star Wars” game not meeting internal expectations.

 

EA was also involved in an expensive acquisition of PopCap, maker of the once popular game “Plants vs Zombies.”

 

But it was also recently named the worst company in America and has had a disappointing fiscal year so far, StartupGrind.com added.

 

“While the quality of EA games has most definitely improved, the costs to produce these games and (CEO John) Riccitiello’s acquisition warpath have only hurt the bleeding,” it said.

 

Also, it noted EA’s stock price had gone down from $61 to $16.

 

Worse, it said Zynga has gutted EA’s management, listing five of the top 11 executives as former EA senior managers. — TJD, GMA News