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Electronic Arts cutting up to 600 jobs
Video game publisher Electronic Arts posted a wider quarterly net loss yesterday and said it is laying off about 6 percent of its workforce to cut costs as it heads into the most lucrative season for the games industry. Chief Financial Officer Eric Brown said the company remains "cautiously optimistic" about the holidays.
Higher development and marketing costs led to the bigger loss for the July-September period. The quarter's revenue surpassed Wall Street's forecast thanks to the success of games like "Spore" and "Madden NFL 09," but the company did not exude the cheery optimism that has characterized the video game industry in the past few months even amid the economic turmoil.
Posted by | Fri, Oct 31, 2008 - 08:40 AM
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