Electronic Arts laying off about 5% - 11% of its staff
Things just aren't going that well for EA. From being nominated as the worst company in America, to one of the worst fan backlashes in history thanks to Mass Effect 3's ending, things just don't seem to be looking up. It also seems that the publisher is planning to lay off 500 - 1000 employees, and this might come as early as next week. Ouch.
This all seems to be stemming from the massive amounts of money EA seems to have lost. During the quarter that ended on December 31st, one of the most crucial periods due to the holiday shopping, it was reported that they have lost $205 million, and the previous quarter had losses all the way up to $340 million.
To top it all off, the company's shares are down 21.5 percent to $16.18, and the stock lost 70 percent of its value over the last five years.
I'm assuming a lot of gamers everywhere are rejoicing to see that the publisher of all publishers aren't having the biggest of successes, but at the same time, it's important to note a lot of good people will lose their jobs, and in this job market, that's a terrifying notion.