Another Bay Area tech company has filed a 'restructuring' plan.
One of the buildings used by Electronic Arts in Redwood City, Calif. The company is laying off workers and reducing real estate holdings.Another Bay Area tech company has filed a “restructuring” plan with the Securities and Exchange Commission this week.
Electronic Arts, headquartered in Redwood City, announced it will lay off 6% of its workforce, in addition to paying upward of $55 million to consolidate office space. The gaming company also has Bay Area offices in San Francisco and Foster City, as well as several real estate holdings throughout the U.S. and internationally.
EA declined to confirm which offices would be affected by the restructuring and instead provided the company statement that CEO Andrew Wilson published for employees. “As we drive greater focus across our portfolio, we are moving away from projects that do not contribute to our strategy, reviewing our real estate footprint, and restructuring some of our teams,” theThe company has 12,900 employees, according to recent SEC filings, about 1,700 of which are in the Bay Area, according to LinkedIn.
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