Videogame maker Electronic Arts (EA.O) , opens new tab said on Wednesday it would reduce 5% of its workforce, as the industry struggles to grow amid high interest rates.
The company expects to incur about $125 million to $165 million in charges as part of the restructuring plan that also includes a reduction in real estate.
The US isn’t in a recession, but all these big companies seem to think it’s high time we had another.
Been saying it since last year. The companies are so terrified of a recession that they’re going to cause one. The funny thing is that this time the market is actually trending up again. This time they just want their bonuses.