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Source and leaked memo: EA plans to cut ~400 jobs, or ~3% of its total staff, and shut down BioWare; EA went private in August following a $55B leveraged buyout (Jason Schreier/Bloomberg)

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In short

announced plans to cut approximately 400 jobs, or about 3% of its total staff, as part of a restructuring initiative. The company has also announced that it will shut down BioWare, a studio known for creating the "Mass Effect" series. This decision comes as part of a broader restructuring effort following a $55 billion leveraged buyout in August.

Key points

  • announced plans to cut approximately 400 jobs, or about 3% of its total staff, as part of…: announced plans to cut approximately 400 jobs, or about 3% of its total staff, as part of a restructuring initiative.
  • The company has also announced that it will shut down BioWare, a studio known for creatin…: The company has also announced that it will shut down BioWare, a studio known for creating the "Mass Effect" series.
  • This decision comes as part of a broader restructuring effort following a $55 billion lev…: This decision comes as part of a broader restructuring effort following a $55 billion leveraged buyout in August.

Sources checked by our analysis pipeline: 1

Jason Schreier / Bloomberg : Source and leaked memo: EA plans to cut ~400 jobs, or ~3% of its total staff, and shut down BioWare; EA went private in August following a $55B leveraged buyout   —  The next ‘Mass Effect’ will be canceled as part of the layoffs  —  Electronic Arts Inc. said it will lay off staff and shut down BioWare …

Original source: www.techmeme.com

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