"People who aren't making great games are going to lose their jobs," said Schofield.
"But if you're making quality and we continue to push on that, and you're a quality person then you're going to keep your job."
He added: "If we continue to make great games, if we continue to push this, we're not going to lose our jobs. Because we're making great stuff."
EA's position as a major brand means the company's a good place to be, said the exec.
"I think the fact that it's happening all over the world, and that it's happening in every industry, makes it a little easier because you say, look guys, we still have a job, EA's a big brand and it's a great company – we're going to survive this. We're looking to fix things. And they realize that: it's a big, big brand."
Redwood Studios was behind Dead Space, which did not perform at retail as well as EA had hoped.