Layoffs
business
EA Goes Private in $55 Billion Saudi-Backed Buyout, Fueling Fears of Mass Layoffs
Electronic Arts has officially completed its $55 billion leveraged buyout by Saudi Arabia's Public Investment Fund, Silver Lake, and Jared Kushner's Affinity Partners. The deal, which loads EA with $18 billion in debt, has sparked widespread fears of mass layoffs as the publisher looks to cut $700 million in annual costs.
6 outletsbusinessDouble Fine Lays Off 23 Staff Weeks After Xbox Spinoff
Psychonauts 2 developer Double Fine has cut 23 employees—about a quarter of its roughly 90-person staff—just weeks after Xbox released it back into independence, with founder Tim Schafer citing the studio's survival as the reason.
6 outlets