Electronic Arts says it'll miss fiscal-year targets, plans deeper job cuts

5 replies

Dec 10, 2008, 01:06 AM

Once considered impervious to a stormy economy, the video game sector is starting to show signs of strain.
Electronic Arts Inc., which produces such franchises as the Sims and Madden NFL, said Tuesday that it probably would miss sales and profit targets for its fiscal year because of disappointing holiday sales in North America and Europe.
The world's largest game publisher also said it would find ways to cut costs, including canceling some game projects and making deeper job cuts than the 6% workforce reduction it had announced in October.
"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," EA Chief Executive John Riccitiello said.

Got a couple friends who work for EA who are afraid they might get the axe, no bueno.

Electronic Arts says it'll miss fiscal-year targets, plans deeper job cuts - Los Angeles Times

sking29forum_veteran

Dec 10, 2008, 01:34 AM

I'm sure the economy has a role in this but I would say most of the blame is on EA for making underwhelming games and people are catching on.

"No problem can be solved from the same level of consciousness that created it." --Albert Einstein

mor911forum_veteran

Dec 10, 2008, 07:09 AM

i also have a friend who works for EA that is hating life.

yesssssssssssssssssss

Fin D;2829671 wrote:
As mor wisely said

Get Up And GoNew Member

Dec 10, 2008, 08:57 AM

I didn't see games like Mirrors Edge selling as well as everyone thought. Plus there has been a lot of competition this holiday season.

Ultraforum_veteran

Dec 10, 2008, 09:35 AM

one thing I'm curious about is why PC games are $10 cheaper than the same game on the console? I'm sure if they dropped prices that the sales would go back to where they were. I know for $60 I'm a lot more picky about games than at $50....it's just a mental thing.

DaFishforum_veteran

Dec 10, 2008, 10:04 AM

"Ultra wrote:
one thing I'm curious about is why PC games are $10 cheaper than the same game on the console? I'm sure if they dropped prices that the sales would go back to where they were. I know for $60 I'm a lot more picky about games than at $50....it's just a mental thing.

The maker of the consoles have to get their cut.