Well, so much for "routine" restructuring. Gamespot reports that monolithic publisher EA has decided to close down its EA Chicago studio. Over 150 employees are affected by the decision, as are future Def Jam games (oh noes!) and a second attempt at a Marvel fighting game. Citing an internal memo from EA Games president Frank Gibeau, the article notes that EA is looking to offer many EA Chicago employees opportunities at its other studios, as well as outplacement assistance.

"We're willing to take risks, make long-term investments, and to support teams and individuals between launches," reads Gibeau's alleged memo. "But each team is responsible for staying on a reasonable path to profitability. Sticking to that strategy is what gives us the financial resources and flexibility to take risks on new projects. Unfortunately, EA Chicago hasn't been able to meet that standard." If left unchecked, EA Chicago was not expected to become profitable until FY 2011 "or later."

Mad Catz has named journeyman financial exec Stewart Halpern as its newest CFO, replacing Cyril Talbot III who left the position nearly four months ago. Halpern will officially join the company on January 15.

Halpern leaves Rockstar, where he was head of finance, to join the peripheral maker. Previously, he was CFO for Def Jam's holding company Rush Communications. After posting a net loss of $6.7 million back in June, Mad Catz is looking to Halpern to turn things around in the New Year. Good luck with that.