If the videogame industry thought they were immune to the economic downturn just a year ago, they’re certainly not still singing that tune today. Electronic Arts posted net losses of $391 million dollars for their second fiscal quarter this year, compared to last year’s loss of $310 million.

One of the measures the firm is going to take is to let go of 1,500 jobs, or roughly 16% of the workforce to save $100 million dollars a year. Electronic Arts CEO John Riccitiello stated “We are making tough calls to cut cost in targeted areas and investing more in our biggest games and digital businesses.”

The top 5 selling titles for the firm during the quarter were NCAA Football 10, Madden NFL 10, FIFA 10, Need for Speed: SHIFT and The Beatles: Rock Band.