Electronic Arts officially completed its $55 billion acquisition in early August, placing the publisher under the ownership of a consortium led by Saudi Arabia’s sovereign Public Investment Fund. Inside EA, however, the beginning of this new era has apparently created considerable unease, with anonymous employees expressing fears about layoffs, studio closures, and the possibility that the company’s new ownership could eventually influence which games receive funding.

Electronic Arts announced on August 4 that the $55 billion transaction first revealed last fall had officially closed, taking the company off the stock market and into private ownership. The acquiring consortium is led by Saudi Arabia’s Public Investment Fund and also includes Silver Lake and Affinity Partners, the investment firm founded by Jared Kushner. It ranks among the largest acquisitions in video game history and represents one of the biggest leveraged buyouts ever completed. Roughly $20 billion in debt financing was committed as part of the transaction.

EA has publicly framed the change in optimistic terms, with CEO Andrew Wilson arguing that the new structure will enable larger investments, faster innovation, and further growth. Current employees who spoke anonymously with Game Developer described a much less reassuring atmosphere inside the publisher. Several said internal town halls have largely produced broad reassurances instead of concrete answers about job security and creative independence, leaving workers uncertain about what the completed deal will actually mean for their teams.

The Fear Isn’t Necessarily Direct Censorship, but That Certain Games Simply Won’t Get Greenlit

One of the central concerns is not that Saudi representatives will personally rewrite scripts or openly prohibit specific themes. Employees described a potentially subtler process in which projects could simply fail to secure funding if EA leadership believes their content does not align with the interests of the new owners. Under that scenario, nobody in Riyadh would need to explicitly order a cancellation because decision-makers within EA could begin anticipating which proposals are likely to be welcomed and which are not. Several employees said the best possible outcome would therefore be for PIF to leave the publisher entirely alone when it comes to creative decisions.

The issue carries additional weight because of international criticism surrounding Saudi Arabia’s human rights record. One EA employee told Game Developer they “feel dirty” knowing that the company is now owned under a structure associated with a government they believe treats their queer friends and family as less than human. Some workers have adopted the term “pixelwashing,” borrowing from the established concept of sportswashing, to describe fears that investment in gaming could also be used to improve Saudi Arabia’s international image. PIF had already spent heavily across the game industry before the EA takeover, holding investments at various times in companies including Nintendo, Capcom, and Take-Two, while the PIF-backed Savvy Games Group has pursued major acquisitions of its own.

The $20 Billion Debt Package Has Employees Worried About Layoffs Too

The other major source of anxiety is more immediate and directly tied to people’s livelihoods. With roughly $20 billion in debt financing used to support the acquisition, some employees expect stronger pressure on EA to cut costs as the new ownership structure seeks to meet its financial obligations. EA previously told employees that the transaction would not result in “immediate” layoffs and argued that its strong financial position and cash generation would allow it to continue investing even after taking on the additional debt. For some workers, however, the word “immediate” leaves an uncomfortable amount of room for interpretation.

Several employees said it is difficult for them to imagine underperforming games or studios escaping scrutiny if the company must generate enough cash to support the buyout’s financing. Some also fear that EA could avoid highly visible mass layoffs by making smaller cuts in successive waves, although there is currently no evidence that such a plan exists and EA has announced no such strategy. The uncertainty is compounded by EA’s new status as a private company, which means it no longer faces the same recurring public-market disclosure requirements it did while listed on NASDAQ. According to Game Developer’s sources, that could make it even harder for ordinary employees to understand the business reasoning behind future studio, staffing, or project decisions.

There is also a complicated financial upside for some workers. Employees who held vested EA shares can receive substantial payouts under the $210-per-share acquisition price, while temporary full-time workers and others who never received equity do not necessarily benefit in the same way. Sources said that disparity has further emphasized what some already view as a widening distance between EA’s executives and its rank-and-file staff. The new owners now control franchises with enormous global reach, including Battlefield, The Sims, EA Sports FC, and Madden NFL, so whether the company’s creative culture truly remains unchanged, and what employees ultimately pay for the enormous transaction, will only become clear over the months and years ahead.

Source: 3DJuegos