<o:p></o:p>

Electronic Arts (EA), a prominent player in the video game industry, plans to trim its workforce by 5 per cent and downsize office space in a strategic restructuring effort. <o:p></o:p>

This announcement comes while challenges within the gaming sector loom, compounded by high interest rates. <o:p></o:p>

EA, known for blockbuster titles like "Star Wars Jedi: Survivor," is likely to bear&nbsp;significant charges, ranging from $125 million to $165 million, while making these&nbsp;operational adjustments. <o:p></o:p>

The move follows major players like Sony, Microsoft, and Riot Games, who are&nbsp;implementing workforce reductions in response to slow market growth.<o:p></o:p>

Reuters cited CEO Andrew Wilson who addressed the workforce reduction in a letter to employees, where he acknowledged the difficulty of the decision and expressing empathy towards affected teams. <o:p></o:p>

While assuring that not every department would be impacted, Wilson highlighted the consideration given to minimising adverse effects on staff. <o:p></o:p>

The company outlined that a huge portion of the charges would be allocated towards severance packages and other employee-related expenses.<o:p></o:p>

A large portion of the incurred charges, estimated at $50 million to $65 million, will be attributed to reductions in office space. <o:p></o:p>

The restructuring plan is set to be to be completed by December 31. <o:p></o:p>

With a global workforce of approximately 13,400 employees, as of March 31 the previous year, EA's workforce reduction is poised to impact a significant segment of its personnel. <o:p></o:p>

Earlier forecasts by the company had indicated fourth-quarter bookings below analyst estimates.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Electronic Arts (EA), a prominent player in the video game industry, plans to trim its workforce by 5 per cent and downsize office space in a strategic restructuring effort.

Electronic Arts (EA), a prominent player in the video game industry, plans to trim its workforce by 5 per cent and downsize office space in a strategic restructuring effort. This announcement comes while challenges within the gaming sector loom, compounded by high interest rates. EA, known for blockbuster titles like "Star Wars Jedi: Survivor," is likely to bear significant charges, ranging from $125 million to $165 million, while making these operational adjustments. The move follows major players like Sony, Microsoft, and Riot Games, who are implementing workforce reductions in response to slow market growth. Reuters cited CEO Andrew Wilson who addressed the workforce reduction in a letter to employees, where he acknowledged the difficulty of the decision and expressing empathy towards affected teams. While assuring that not every department would be impacted, Wilson highlighted the consideration given to minimising adverse effects on staff. The company outlined that a huge portion of the charges would be allocated towards severance packages and other employee-related expenses. A large portion of the incurred charges, estimated at $50 million to $65 million, will be attributed to reductions in office space. The restructuring plan is set to be to be completed by December 31. With a global workforce of approximately 13,400 employees, as of March 31 the previous year, EA's workforce reduction is poised to impact a significant segment of its personnel. Earlier forecasts by the company had indicated fourth-quarter bookings below analyst estimates. (With inputs from Reuters)

Electronic Arts announces workforce reduction and office space cutback: Report

Sportswear maker Nike Inc and video game maker Electronic Arts Inc (EA) said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world's best football players.

The 33-year-old athlete on Tuesday denied rape allegations levelled against him by a woman who sued him in court in Nevada.

"We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation," Nike said in a statement.

Nike has worked with Ronaldo since 2003 and in 2016 announced a lifetime deal with him which could be worth as much as $1 billion, according to Forbes magazine.

Nike did not respond immediately to a request to confirm the statement.

Electronic Arts has featured Ronaldo on the cover of its EA Sports' FIFA series for two years.

"We have seen the concerning report that details allegations against Cristiano Ronaldo," an EA spokesperson said in an email to Reuters.

"We are closely monitoring the situation, as we expect cover athletes and ambassadors to conduct themselves in a manner that is consistent with EA's values," the company said.

Kathryn Mayorga sued Ronaldo in a district court in Clark County, Nevada, alleging he raped her in 2009 in a Las Vegas hotel penthouse suite.

The player has said his conscience was clear and that he would await the results of any investigation.

"I firmly deny the accusations being issued against me. Rape is an abominable crime that goes against everything that I am and believe in," the world-famous athlete wrote in a tweet to his 75 million followers.

Ronaldo transferred from soccer team Real Madrid to Italian champions Juventus this summer for 100 million euros. Juventus broke their silence on the situation Wednesday afternoon on Twitter, fully backing Ronaldo.

"Cristiano Ronaldo has shown in recent months his great professionalism and dedication, which is appreciated by everyone at Juventus," the team tweeted.

"The events allegedly dating back to almost 10 years ago do not change this opinion, which is shared by anyone who has come into contact with this great champion," Juventus said.

Sportswear maker Nike Inc and video game maker Electronic Arts Inc (EA) said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world's best football players.

Sportswear maker Nike Inc and video game maker Electronic Arts Inc (EA) said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world's best football players. The 33-year-old athlete on Tuesday denied rape allegations levelled against him by a woman who sued him in court in Nevada. "We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation," Nike said in a statement. Nike has worked with Ronaldo since 2003 and in 2016 announced a lifetime deal with him which could be worth as much as $1 billion, according to Forbes magazine. Nike did not respond immediately to a request to confirm the statement. Electronic Arts has featured Ronaldo on the cover of its EA Sports' FIFA series for two years. "We have seen the concerning report that details allegations against Cristiano Ronaldo," an EA spokesperson said in an email to Reuters. "We are closely monitoring the situation, as we expect cover athletes and ambassadors to conduct themselves in a manner that is consistent with EA's values," the company said. Kathryn Mayorga sued Ronaldo in a district court in Clark County, Nevada, alleging he raped her in 2009 in a Las Vegas hotel penthouse suite. The player has said his conscience was clear and that he would await the results of any investigation. "I firmly deny the accusations being issued against me. Rape is an abominable crime that goes against everything that I am and believe in," the world-famous athlete wrote in a tweet to his 75 million followers. Ronaldo transferred from soccer team Real Madrid to Italian champions Juventus this summer for 100 million euros. Juventus broke their silence on the situation Wednesday afternoon on Twitter, fully backing Ronaldo. "Cristiano Ronaldo has shown in recent months his great professionalism and dedication, which is appreciated by everyone at Juventus," the team tweeted. "The events allegedly dating back to almost 10 years ago do not change this opinion, which is shared by anyone who has come into contact with this great champion," Juventus said.

Nike 'concerned' about Ronaldo rape claims

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Electronic Arts announces workforce reduction and office space cutback: Report

Nike 'concerned' about Ronaldo rape claims