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BY Peter Saalfield

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Electronic Arts (EA) is reducing its global workforce by 3%, or about 400 jobs, and shutting down BioWare, the 31-year-old studio behind the Mass Effect series.

The cuts, announced yesterday, are the first major changes at EA since the gaming giant went private in a massive, $55 billion leveraged buyout finalized in September by Saudi Arabia’s Public Investment Fund, Silver Lake, and Jared Kushner’s Affinity Partners.

The deal put roughly $18 billion in debt on EA’s books, requiring hefty annual interest payments.…