Apple sells off despite Street-beating earnings, iPhone sales >>> READ MORE

Electronics Arts Confirms Another Round of Layoffs

Recent rumors say the company is up for sale


Electronic Arts ERTSUnnamed insider sources told Kotaku on Thursday that video game developer Electronic Arts (NASDAQ:EA) is laying off up to 10% of its staff. The company’s workforce numbered about 9,000 at the end of last year.

The company subsequently confirmed that it is reducing its workforce in a post on its corporate blog, saying that the cuts were decided on after it “aligned all elements of its organizational structure behind priorities in new technology and mobile.” Electronic Arts did not provide details regarding the number of employees laid off or how the reductions were distributed across its departments.

New Electronic Arts App Has Nothing to Do With Gaming
New Electronic Arts App Has Nothing to Do With Gaming

Known for popular video game titles, including The Sims, Battlefield and Madden, earlier this month rumors surfaced that Electronic Arts was looking for a buyer.

Last week, the company shut down three under-performing Facebook (NASDAQ:FB) games, SimCity, Pet Society and The Sims Social.

Shares of Electronics Arts rose almost 1% in Friday morning trading.

Article printed from InvestorPlace Media,

©2016 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.