In a recent financial report, all of Electronic Arts’ cards were laid on the table, with special attention being paid to the compensation of the company’s senior stakeholders in FY2024. In a 12-month window, more than $60 million was paid out to the firm’s most executive staff members, with the CEO, Andrew Wilson, securing a $25 million cut as the wider company laid off 5% of the global workforce and closed down studios.
Earlier this year, almost 700 employees were made redundant as Electronic Arts restructured, aiming to focus more on owned IP. At the same time, studios under the EA banner were closed down and some projects were cancelled. In the previous fiscal year, some 800 EA employees lost their jobs.
Transparency
In a 96-page report published by Electronic Arts, compensation, bonus, and audit information was made publicly available, revealing just how much EA’s most senior staff members had earned at the company during FY2024. At the top of the tables sat the firm’s CEO, Andrew Wilson, who secured $25.6 million in stock awards, base salary, incentive-based compensation, and ‘other’ compensation.
Most recently, Wilson was in the news for talking about introducing more dynamic ads to games and addressing the rise of AI in game development.
Behind Wilson in the charts sat Laura Miele, the President of EA Entertainment, Technology, and Central Development. She netted a whopping $12 million for playing her part so well in the last twelve months at Electronic Arts. The executive with the lowest compensation was Stuart Canfield, the all-new CFO who entered the role recently, succeeding Chris Suh.
During FY2024, Electronic Arts accrued a net booking total of $7.43 billion, but after having cut more than 10% of the company’s workforce in little more than a year, the community at large isn’t overly pleased with that fact.
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Not surprised and moving forward my guess is BioWare is next to be shut down.
EA bring back the classics and all can be forgiven Def Jam, SSX, NBA Street, Thrill Kill, and The Simpsons Hit & Run.
Yor made a few grammar mistakes in the headline, the correct sentence will look like this:
“EA CEO made 25M$ thanks to cutting over 700 jobs.
It’s really getting worse and worse with this kind of stuff being allowed to happen. Talented people that worked hard to make the company money get rewarded by being fired so the person that barely did anything or made most of the terrible decisions, gets a fat bonus at the end.
There should be some law in place about the amount of profit a company makes and whether or not they are allowed to cut staff.