Electronic Arts is implementing $700 million in annual cost-cutting measures.
A consortium led by Saudi Arabia’s Public Investment Fund, Silver Lake, and Affinity Partners completed a $55 billion acquisition of the company.
The video game giant has delisted from the Nasdaq stock exchange to operate as a private entity.
Management designated $170 million for organizational efficiencies, signaling imminent mass layoffs.
The strategy aims to manage $1.8 billion in annual interest payments incurred from the deal's financing.