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Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’: 

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Electronic Arts

Electronic Arts Lays Off 350 Employees

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
March 26, 2019, 12:29 PM ET

Video game giant Electronic Arts plans to lay off 350 employees as it adapts to a fast-evolving market.

CEO Andrew Wilson announced the move in a blog post Tuesday, saying “as we look across a changing world around us, it’s clear that we must change with it.”

EA employs 9,000 people company wide. In his note, Wilson said EA was making changes to its marketing and publishing organization, as well as operations teams. Additionally, the company is “ramping down our current presence in Japan and Russia,” Wilson wrote.

“These are important but very hard decisions, and we do not take them lightly,” he said. “We are friends and colleagues at EA, we appreciate and value everyone’s contributions, and we are doing everything we can to ensure we are looking after our people to help them through this period to find their next opportunity.”

EA reported disappointing third quarter earnings in February, missing its revenue projection and citing “intense competition” as the primary reason. The company also lowered its future guidance.

Investors punished the company, but quickly warmed to it again with the release of the free-to-play game Apex Legends, which has quickly attracted a huge player base. It’s unclear if the success of Apex Legends has affected company management’s thinking on EA’s future direction.

EA stock was up by less than 1% on the news in mid-day Tuesday trading.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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