US games giant Electronic Arts (EA) is to close one of its development sites in the UK as it looks to trim costs.
Bringing out new sports games is key to EA
About 350 jobs will go across the firm worldwide, including the closure of its offices at Chertsey in Surrey.
EA saw a loss of $195m (£93.6m) in the three months to the end of September against a $22m profit a year ago, which it said was down to accounting changes.
The firm has been criticised for not investing enough in games for the highly successful Nintendo Wii.
EA's chief financial officer, Warren Jenson, said the company would have seven titles for the Wii in time for Christmas plus five titles for the handheld Nintendo DS system.
"We were late to the Wii, but this year, we plan to launch ten to 15 games for the Wii and DS," Mr Jenson said.
Games already released by EA this year include its best-seller, Madden NFL 08, and MySims - part of the successful Sims franchise.
EA, the world's biggest independent games publisher, said that the closure of the Chertsey site would save it between $25m and $30m a year.
Last month it revealed it was to buy two video game studios - Bioware and Pandemic - for $855m in a deal adding role-playing and action titles to its portfolio.