After $55 billion Saudi takeover, Bay Area company lays off 400
A sign is posted in front of Electronic Arts headquarters on March 30, 2023 in Redwood City, California. Electronic Arts is laying off about 400 workers and shutting down BioWare months after its $55 billion Saudi-led takeover.
TL;DR
- Electronic Arts (EA) is laying off about 400 employees, representing roughly 3% of its workforce.
- EA is shutting down its BioWare studio, known for games like "Mass Effect" and "Dragon Age."
- The restructuring aims to focus resources on fewer, larger projects and major franchises.
- This move occurs less than three months after EA's $55 billion sale to a consortium led by Saudi Arabia's Public Investment Fund.
- EA will prioritize deepening investment in its biggest franchises, expanding into new markets, and developing new ways for sports fans to interact with teams and athletes.