ELECTRONIC ARTS INC. (EA): restructuring charge — EA announces restructuring plan cutting 6% of workforce, $170-200M charges

ELECTRONIC ARTS INC.

Workforce reduction of ~6% approved on March 27, 2023; office space also reduced.
Total estimated charges $170M–$200M: IP impairment $65–70M, severance $55–65M, office space $45–55M.
Future cash expenditures expected $80M–$100M; actions substantially complete by September 30, 2023.
Plan focused on prioritizing growth investments and portfolio rationalization.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ELECTRONIC ARTS INC. announced a restructuring with charges of approximately $170 million to $200 million (approximately 6% of the Company's workforce).

Type: restructuring
Charge: approximately $170 million to $200 million
Headcount: approximately 6% of the Company's workforce

Exact text from the filing

and headcount reductions impacting approximately 6% of the Company's workforce, in addition to office space reductions. The Company estimates that it will incur approximately $170 million to $200 million in charges in connection with the Plan. These charges consist primarily of approximately $65 million to $70 million in charges related to intellectual property

View on SEC.gov

Browse all restructurings & charges →

ELECTRONIC ARTS INC. filing history →

Source: SEC EDGAR

accession 0000712515-23-000018

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.