Zynga lays off 18 percent of workforce, shifts focus to mobile
Zynga, the social gaming services company, is laying off 18 percent of its employees in an effort to reduce its cost structure.
CEO Mark Pincus announced the layoffs Monday in a note to employees posted on the company's blog. Zynga, as of the end of last year, had more than 3,000 full-time employees, according to a filing with the U.S. Securities and Exchange Commission.
All told, more than 500 employees will be let go by August, Zynga said in a statement. Various offices are also closing, but Zynga declined to comment on specific locations. "Today is a hard day for Zynga and an emotional one for every employee of our company," Pincus said. "The impact of these layoffs will be felt across every group in the company."
