Submitted by Tiberius Jonez
It seems noone is immune to the ill-effects of this Bush economy, and that includes industry giant Electronic Arts. The uber publisher announced its second quarter fiscal results and the news is not good. Coming off a first quarter loss of $95 million, EA announced a loss of $310 million for the period ending September 30. The loss comes despite the retail successes of Madden NFL 09 (4.5 million units sold), Spore (2 million units sold) and Warhammer Online (1.2 million units sold).
Due to the mounting losses, EA announced plans to eliminate roughly 600 employees, representing 6% of the company's total work force. While EA expects to make up some of the losses with upcoming holiday sales, we doubt that makes those 600 feel any better.
It seems noone is immune to the ill-effects of this Bush economy, and that includes industry giant Electronic Arts. The uber publisher announced its second quarter fiscal results and the news is not good. Coming off a first quarter loss of $95 million, EA announced a loss of $310 million for the period ending September 30. The loss comes despite the retail successes of Madden NFL 09 (4.5 million units sold), Spore (2 million units sold) and Warhammer Online (1.2 million units sold).
Due to the mounting losses, EA announced plans to eliminate roughly 600 employees, representing 6% of the company's total work force. While EA expects to make up some of the losses with upcoming holiday sales, we doubt that makes those 600 feel any better.
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