"Mass layoffs" expected at EA, as $55bn buyout by Saudi Arabia's PIF and Donald Trump's son-in-law officially goes through

"Mass layoffs" expected at EA, as $55bn buyout by Saudi Arabia's PIF and Donald Trump's son-in-law officially goes through It's in the game. The months-long process of Electronic Art's acquisition finally came to a close late last night. The company is now privately owned by investment firm Silver Lake, private equity group Affinity Partners (led by US president's son-in-law Jared Kushner), and the Kingdom of Saudi Arabia's Public Investment Fund (PIF). According to Jason Schrier at Bloomberg, EA has told debt investors it will cut $700m in annual costs, including $170m in "organizational efficiencies", which Schreier interprets as "mass layoffs".