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.
Retro Gamer
- Entities
- Electronic Arts
- Microsoft
- Joshua Kushner
- Artificial Intelligence
- Affinity Partners
- Layoffs
- Silver Lake
- Activision Blizzard
- Private Investment Fund
- Mergers and Acquisitions
- Jason Schreier
- Andrew Wilson
- Debt Financing
Original source
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