12:49
nitin
As part of a major effort to trim costs and focus more on mobile strategy, online gaming company Zynga is laying off 520 staffers — or about 18% of its workforce, according to a company press release.
The company, which is now expected to save $80 million in employee costs, will also close its offices in New York, Los Angeles and Dallas. The reductions will occur across all job divisions and be complete by August 2013, the company said
"None of us ever expected to face a day like today, especially when so much of our culture has been about growth," CEO and Founder Mark Pincus wrote to employees in a memo. "But I think we all know this is necessary to move forward. The scale that served us so well in building and delivering the leading social gaming service on the Web is now making it hard to successfully lead across mobile and multiplatform, which is where social games are going to be played." Read more...
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