EA LA Conducting Layoffs?

EGM/1up is reporting this morning that 50-70 people at the Los Angeles EA studio are being let go. Although the rumor is that these people largely worked on the recent Goldeneye and upcoming Medal of Honor games, the Origin brand is also located at this complex. With new James Bond and Medal of Honor games scheduled for release later in 2005, these shake ups are a little mysterious.

Edit: GameSpot confirms the news with new quotes from former-Origin and current-EALA general manager Neil Young.