Within the UK, a consultation process is triggered when at least 20 redundancies are proposed to be made within a 90 day period. The process follows on from the company announcing in September that it has been bought by an unknown private equity firm. Due to UK laws, Splash Damage must notify and consult with employee representatives or trade unions, with required notice periods of at least 30 days if there are 20 to 99 redundancies or 45 days if 100 or more are expected.
The $55 billion sale of Electronic Arts to Saudi Arabia's Public Investment Fund and a group of other private equity investors is a big deal. Some people are going to make a lot of money off it. Others may lose their jobs when the interest bill for the debt-financed portion of the leveraged buyout comes due. CEO Andrew Wilson, who will remain in charge of the Madden and Battlefield publisher even after the sale closes, is thanking his employees.