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EA reveals latest financial results; plans to lay off 1,500 workers [Update]


Electronic Arts' latest financial results included word that the publisher plans to once again lay off a number of additional workers. The press release announced that EA plans to lower its staff number by 1,500 employees and shut down a number of unnamed facilities. EA expects to save $100 million a year with this latest cost reduction. The company had already cut 1,100 workers earlier this year.

Gamasutra is already reporting that EA has laid off a number of workers at several of its development studios today including Mythic Entertainment, EA Black Box, EA Tiberon, and EA Redwood Shores. These new round of layoffs were revealed the same day EA bought social networking game publisher Playfish for $300 million.

As far as its financial results, EA brought in $788 million in revenues for its fiscal quarter that ended September 30, compared to the $894 million it received from the same period a year ago. The company had a net loss of $391 million for the quarter compared to a loss of $310 million for the same period a year ago.

Update In a conference call to financial analysts, EA execs have announced they have canceled "over a dozen" game titles, although specific games were not mentioned.

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