Electronic Arts (EA) is laying off an unspecified number of employees in another round of job cuts ahead of a planned $55 billion sale to Saudi Arabia. Multiple outlets report that this is at least the third wave of layoffs EA has carried out this year. The reports frame the staff reductions as occurring while the company moves closer to the expected leveraged buyout by Saudi Arabia-linked backers. The sale is described as one of the largest transactions involving the company, and the timing coincides with EA’s broader financial pressure and restructuring efforts. One outlet notes that the transaction could help offset the impact of EA’s reported $20 billion debt, though details of how the sale affects specific liabilities are not elaborated in the reports provided. The number of impacted staff is not stated publicly in these summaries. Collectively, the sources agree that EA continues to reduce headcount during the period leading up to the expected Saudi-backed acquisition.
EA conducts another round of layoffs ahead of planned $55 billion sale to Saudi Arabia
Electronic Arts (EA) is laying off an unspecified number of employees in another round of job cuts ahead of a planned $55 billion sale to Saudi Arabia. Multiple outlets report that this is at least th...
- EA lays off an unspecified number of employees.
- The layoffs are another wave and are described as EA’s third staffing cuts this year.
- The job cuts happen in the run-up to an expected $55 billion leveraged buyout by Saudi Arabia.
- At least one report links the sale’s timing to pressure from EA’s reported $20 billion debt.
The layoffs will continue until… well, something improves.
13 hours agoEA has laid off an unspecified number of staff yet again, its third wave of staffing cuts this year. This comes as the $55bn Saudi Arabian leveraged buyout of the company marches closer. Read more
19 hours agoThis is at least the third round of layoffs from EA just this year
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