Economies around the world are in havoc, let’s not even get started on Iceland, but recession is looming or already affecting many countries. Electronic Arts is susceptible and the latest final quarter results show that while net revenue for the quarter was up to US$894 million, the company lost US$310 million, a big chunk from US$195 million from the same period last year. After the news EA shares plummeted to an almost seven-year low in after-hours trading.

With retail forecasts not looking bright EA is focusing on cost reduction by hammering out the pink-slips to 6 percent of its global workforce. That’s over 500 positions. Reportedly both Electronic Arts Los Angeles and Pandemic were already hit hard. Let's follow the money trail and how the EA brands performed including the mega-hyped Spore...

Read full article by Matt Warner

Die EAids die!!!!!

Heh should see all the "omfg EA's shares went down, WAR's doomed" threads on MMORPG.com

Forget the fact that the sharemarket in general has died in the ass.

Nice caption for the pic of Harry Potter.

This really isn't good news guys, the Publishers regains their profits by laying off their staff, 500 of them that article states. And Pandemic is an Aussie developer, Brisbane based, this is horrible news for them, and not good for the Australian Games Industry.

Pandemic are an international developer who has offices in both Brisbane and Los Angeles. We're waiting to hear back from the local studio to find out if and how these cuts affect them.

thread title too long? Looks like it was cut off.

That's happened quite a bit as of late.

Only in the forums. On the front page (ie: where it's meant to be seen), it's fine

Yeah true, I forgot about that their other office. Maybe our weak dollar will spare the Brisbane office.

hope they didnt sack the developers for Red Alert 3 cause damn that game is good

Just a confirmation - we've learned that there have been job cuts at both the Brisbane and Los Angeles studios, but at this stage it doesn't look like either studio is in danger of closing.

Well EA is a big boy now and it should be able to cope. If you think people are stressed in the gaming industry, I would hate to see what it's like to be a financial adviser, stock broker or an economist at this point in time.

I feel really sorry for the Developers who get caught up in this.Cutting the developers strikes me as a really bad idea though. These people are making the games that EA will release in a year or 3 from now, there is no way to anticipate what the demand will be like then.

EA can blame themselves for their own problems. Maybe if they cared about the customer then they could deserve sympathy.

Wouldn't be surprised if EA cut all the interesting games to focus on proven but boring sequels.



Totally agree.