Electronic Arts Announces Layoffs and Cancels 'Titanfall' Game

Published 5 hours agoEA

Electronic Arts Announces Layoffs and Cancels 'Titanfall' Game

Electronic Arts (EA) has announced a series of significant changes, including the layoff of between 300 to 400 employees and the cancellation of a 'Titanfall' game in development. This move affects about 100 positions at Respawn Entertainment, where the game was being worked on. Reuters reported these developments as part of EA's strategic plans.

These changes come as EA seeks to realign its resources with long-term goals aimed at fostering growth. Despite the layoffs and project cancellation, Respawn Entertainment remains committed to supporting ongoing projects such as 'Apex Legends' and the next 'Star Wars Jedi' installment. Earlier this year, EA reduced its annual bookings forecast and identified weak consumer spending on key titles as a contributing factor, amid broader economic challenges.

Currently, Electronic Arts' stock is trading at $145.97, showing a minor decrease of $0.76 from the previous close. The trading range for the day has been between $144.33 and $147.12. As EA navigates these strategic adjustments, the company's financial performance remains closely observed by investors, particularly in light of recent economic conditions and the company's latest earnings update.

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