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November 10, 2009
Giant video-game publisher Electronic Arts, faced with declining industry sales, plans to cut its work force by about 17 percent -- its second round of layoffs this year.
It's too early to say how the latest cutbacks, announced Monday, will affect the company's small development game studio in Morrisville, said spokesman Jeff Brown. He declined to disclose how many employees the company has in Morrisville.
Electronic Arts, the number two video-game publisher, said it would cut 1,500 jobs on the same day that it announced it acquired a privately held maker of social network games, Playfish, for up to $400 million.
Earlier this year, Electronic Arts shed 1,100 jobs as the company seeks to reverse a string of quarterly losses by cutting costs and focusing on hit games.
In its latest fiscal quarter the publisher of games such as "Madden NFL 10" and "The Beatles: Rock Band" lost $391, versus $310 million a year ago. Sales declined 12 pecent to $788 million.
CEO John Riccitello projected during a conference call that industry sales this year will decline in the "mid to high single digits," percentage-wise.
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