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Zynga Reduces Staff, Post Loss

by on October 24, 2012
 

More bad news has come from Zynga.

The company laid off 5 percent of its overall staff, or about 150 employees, closing the Boston Studio and majorly reducing the Austin Studio staff. In addition 13 games have been retired and the company is “significantly reducing” the investment it has in The Ville.

“In addition to these studios, we are also making a small number of partner team reductions,” CEO and founder Mark Pincus said in a statement. “In all, we will unfortunately be parting ways with approximately 5 percent of our full time workforce. We don’t take these decisions lightly as we recognize the impact to our colleagues and friends who have been on this journey with us. We appreciate their amazing contributions and will miss them.”

In addition, Zynga posted a $52.7 million loss in the third quarter of 2012. Last year, the company had a $12.5 million profit.

Net revenue was up compared to last year, though, seeing the company bring in $316 million compared to $306 million last year.

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