Electronic Arts to Lay Off 5 Percent of Workforce, Reduce Office Space
Electronic Arts will reduce 5 percent of its workforce as part of a restructuring plan that also includes a reduction in real estate, the company said on Wednesday, as the video game industry struggles to grow amid high interest rates.The company, which makes gaming titles such as Star Wars Jedi: Survivor, expects to incur about $125 million to $165 million in charges related to the move.Sony, Microsoft and Tencent-owned Riot Games have also laid off thousands of employees in recent months due to a slow recovery in the…