Electronic Arts Just Announced Job Cut After a Dismal Financial Report

Electronic Arts (EA) will be cutting 350 positions from its workforce, which consists of 9,000 employees.

The company has said that the cuts will affect its marketing, operations and publishing teams and will hit its operations in Japan and Russia the hardest. These countries are where the company is curbing down its current presence.

“Today we took some important steps as a company to address our challenges and prepare for the opportunities ahead. As we look across a changing world around us, it’s clear that we must change with it. We’re making deliberate moves to better deliver on our commitments, refine our organization and meet the needs of our players,” stated Andrew Wilson, the CEO of EA in a blog post.

The company recently reported third quarter results. Revenue at $1.29 billion was lower than the $1.73 billion that was expected by analysts.

Electronic Arts cited sluggish sales of its Battlefield V game and a challenging mobile games market.

It was in February that another gaming company, Activision Blizzard, also said it would slash 800 employees from its workforce after weak financial results.

“The video game industry continues to grow through a year of intense competition and transformational change,” stated Wilson. “Q3 was a difficult quarter for Electronic Arts and we did not perform to our expectations. We are now applying the strengths of our company to sharpen our execution and focus on delivering great new games and long-term live services for our players.”

Disclaimer: We have no position in Electronic Arts Inc. (NASDAQ: EA) and have not been compensated for this article.