Electronic Arts to cut 6% of workforce, take $170M-$200M in charges
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Electronic Arts (NASDAQ:EA) will cut some 6% of its workforce as part of a new restructuring plan.
The board on Monday approved a restructuring plan "focused on prioritizing investments to the Company's growth opportunities and optimizing its real estate portfolio," EA said in an SEC filing after hours Wednesday.

Along with the headcount reductions and associated office-space cuts, the plan includes actions driven by intellectual property impairment charges.
EA estimates it's taking charges of $170M-$200M tied to the plan: about $65M-$70M in IP impairment; $55M-$65M tied to employee severance and employee-related costs; $45M-$55M tied to office space cuts; and about $5M-$10 in other charges.
Of those, the company estimates some $80M-$100M will be future cash expenditures, and it expects the plan's actions to be substantially complete by Sept. 30.
EA stock was up 0.5% postmarket shortly after the filing.