Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
June 25, 2021
arrowPress Releases







If you enjoy reading this site, you might also want to check out these UBM Tech sites:


EA Lowers Estimates, Plans Cuts As Sales Underperform

EA Lowers Estimates, Plans Cuts As Sales Underperform

December 9, 2008 | By Leigh Alexander

December 9, 2008 | By Leigh Alexander
Comments
    5 comments
More: Console/PC



Electronic Arts says holiday sales across North America and Europe have not met expectations, and thus neither will its 2009 financial results.

To compensate, EA says it'll cut titles from its slate for next year, reduce headcount and consolidate facilities, although it didn't further specify those cost reduction plans.

"While we saw significant improvement in the overall quality of our key products this year, we are disappointed that our holiday slate is not meeting our sales expectations," said EA CEO John Riccitiello, Chief Executive Officer, also citing the "uncertain economic environment" as motive for the planned cost reduction.

"While we are cutting costs, we remain committed to investing in great game quality, in new properties and in our direct-to-consumer initiatives," Riccitiello added. "We will be launching several new titles and online games in fiscal 2010."

Although Lazard Capital Markets analyst Colin Sebastian recently said he felt EA was positioned to weather the downturn, he also lowered his own estimates for EA. The analyst suggested that Mirror's Edge and Need For Speed were underperforming, and predicted further cost reductions for EA beyond the 600 layoffs the publisher announced at the end of October.


Related Jobs

Zing Games Inc.
Zing Games Inc. — Naperville, Illinois, United States
[06.24.21]

Gameplay Programmer
Infinity Ward / Activision
Infinity Ward / Activision — Woodland Hills, California, United States
[06.24.21]

Expert Gameplay Engineer
Housemarque
Housemarque — Helsinki, Finland
[06.23.21]

Writer (contract)
Treyarch / Activision
Treyarch / Activision — Santa Monica, California, United States
[06.22.21]

Senior Technical Character Artist









Loading Comments

loader image