Electronic Arts will lay off more than 700 employees — 6% of the video game publisher’s worldwide workforce of roughly 12,900 — CEO Andrew Wilson said on Wednesday.
The mass dismissals come despite a $1.3 billion gross profit that EA reported for its latest fiscal quarter, according to financial statements given to investors in January. Still, the company at the time also lowered its full year profit expectations, despite revenue and profit increases over the same quarterly period from 2022.
“Even amidst macro uncertainty, EA is operating from a position of strength,” Wilson said in announcing the layoffs. He said EA is “gaining momentum,” but still announced the layoffs a few paragraphs later.
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