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May 8, 2012 03:25 am GMT
EA's big shift toward treating games as services instead of packaged goods is going to mean restructuring this year. Chief executive John Riccitiello said in today's earnings call that there will be some layoffs as the company increases production of online, mobile, and social games. While EA beat earnings estimates for the quarter ending in March, its shares fell in after-hours trading by as much as 9.5 percent. The company has slipped nearly 20 percent since its last earnings call in February.EA said in the statement that the move was being launched "to align the company's cost structure with its ongoing digital transformation." For some quick history: About a month ago, Derek Anderson reported that EA would be laying off 500+ employees, which came on the heels of its big Popcap acquisition, the departure of its CFO, and the ignominious title of being named "the worst company in America," according to The Consumerist.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ImVAgC8b20g/
EA Tempers Coming Layoffs With $1.2B In Digital Revs For The Year, Promise Of Big Social Title
EA's big shift toward treating games as services instead of packaged goods is going to mean restructuring this year. Chief executive John Riccitiello said in today's earnings call that there will be some layoffs as the company increases production of online, mobile, and social games. While EA beat earnings estimates for the quarter ending in March, its shares fell in after-hours trading by as much as 9.5 percent. The company has slipped nearly 20 percent since its last earnings call in February.EA said in the statement that the move was being launched "to align the company's cost structure with its ongoing digital transformation." For some quick history: About a month ago, Derek Anderson reported that EA would be laying off 500+ employees, which came on the heels of its big Popcap acquisition, the departure of its CFO, and the ignominious title of being named "the worst company in America," according to The Consumerist.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ImVAgC8b20g/
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