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EA will spend over $125 million laying off 5 percent of its workforce (www.gamedeveloper.com)

submitted 1 year ago by ylai@lemmy.ml to c/gaming@lemmy.ml

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[–] Ghostalmedia@lemmy.world 13 points 1 year ago (8 children)

"These charges consist of approximately $50 million to $65 million associated with office space reductions, approximately $40 million to $55 million related to employee severance and employee-related costs, and $35 million to $45 million in costs associated with licensor commitments," reads the filing.

The severance I get, but why is closing offices costing them so much. And what are “ licensor commitments?”

[–] stevecrox@kbin.run 2 points 1 year ago* (last edited 1 year ago)

Every big UK company I have worked for doesn't own its building. They will typically agree to rent a building for 5-20 years at a fixed rate (longer times if its being purpose built for them) .

So I would expect this is paying out the rest of the rental agreements for a building to escape the building lease.

It is to do with financial reporting and the way asset and operational costs are reported.

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