Mass layoffs expected at EA as the now-private publisher reportedly tells its new debt masters that it's going to…
Following its $55 billion acquisition by a consortium including Saudi Arabia's Private Investment Fund, Electronic Arts is reportedly planning mass layoffs to manage significant debt. The publisher has informed debt investors of plans to cut $700 million in annual costs, including $170 million in organizational efficiencies, to service approximately $1.8 billion in annual interest payments.
- Entities
- Company: Electronic Arts
- Company: Microsoft
- Person: Joshua Kushner
- Topic: Artificial Intelligence
- Company: Affinity Partners
- Topic: Layoffs
- Company: Silver Lake
- Company: Activision Blizzard
- Company: Private Investment Fund
- Topic: Mergers and Acquisitions
- Person: Jason Schreier
- Person: Andrew Wilson
- Topic: Debt Financing
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