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Gaming giant Electronic Arts is said to layoff 6% of its employees in line with the on going financial crisis. The company lost $0.97 per share in the second quarter but had a 40% sales increase. Overall the company lost $310 million in the second quarter. The layoffs will save the company $50 million per year but the restructuring charges next year will cost around $37 million. According to the company’s CEO, John Riccitiello:

Considering the slow down at retail we’ve seen in October, we are cautious in the short term. Longer term, we are very bullish on the game sector overall and on EA in particular.

[via wired]