Electronic Arts Inc. has announced plans to cut 65 employees at its Redwood City HQ.
According to a letter from EA Vice President Joe Wilson dated April 19, to state employment officials, the video game giant intends to start cutting affected employees around May 19.
A request for comment from the Employment Development Department of the state regarding the notice of layoffs released by the EA on Tuesday was not answered.
In late March, the company announced that it would be laying off 6% or 770 employees. According to the company's most recent annual report, EA had 12,900 employees worldwide as of March last year. The company is expecting to incur a charge between $170 and $200 million in relation to the job cuts. This includes severance costs, office space reductions, and other items.
In a March memo, CEO Andrew Wilson announced the job cuts by saying, "As part of our efforts to focus on our entire portfolio, we will be moving away from non-strategic projects, reviewing our real estate footprint and restructuring some teams."
Wilson stated that EA intends to transfer some of its employees affected by restructuring into teams it is keeping in place.
These layoffs come after the company announced in January that it would be cutting mobile versions of popular franchises. EA has also pushed back the launch date of "Star Wars Jedi: Survivor", by one month, to April. This delay pushed the "Star Wars: Survivor" title to EA's fiscal year 2024.
EA shares (Nasdaq EA) dropped 1% to $126.16 on Tuesday. The stock gained 5.1% over the last year, despite the S&P 500 Index falling less than 1%.