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Zynga Announces More Job Cuts And Expects Wider Losses

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http://www.bbc.co.uk/news/business-22763332

Games developer Zynga has said it plans to cut 520 jobs and warned that it expects wider losses than it previously estimated.

The cuts, which represent about 18% of its workforce, come after the company shed 5% of its staff in October.

Zynga is one of the pioneers of social gaming but has struggled to replicate the success of its Farmville series.

It said it now expects to make a loss of between $28.5m to $39m (£18.6m to £25m) in the April to June quarter.

That is worse than the projection of a loss of between $26.5m and $36.5m the company had issued earlier this year.

The firm also warned that sales of in-game virtual goods were likely to come in at the lower end of its estimate.

"Not confident"

The company said that the latest move, which also includes shutting some offices, would help it save between $70m to $80m in annual costs.

"By reducing our cost structure today we will offer our teams the runway they need to take risks and develop these breakthrough new social experiences,'' Mark Pincus, chief executive of Zynga said in a blog post.

So by demoralising staff with a large layoff this is going to give teams the runway they need to take risks... A company that over expanded and couldn't sell essentially goods that don't exist other than in a virtual world? A recipe for total success surely, I can't understand why they aren't making money especially with inspirational leadership like they have with talk of runways to success.

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They should bring out a company liquidation sim.

Like the one they are going to use to create two banks from one? Sorry: that market space is already "owned" by the big auditing firms.

Aidanapword

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They should bring out a company liquidation sim.

There is a game-making sim. The developers even put in some code where, if you try to use a pirated version of the real game, all the games you create get pirated and you go bust. Brilliant.

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They should bring out a company liquidation sim.

the next big thing will be sim social networking.

youll play as a sim trying to social network with other sims in a virtual world on facebook.

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those are large losses imo for a small company ( 520 employees is 18% of workforce). from memory this waa the co that designed its games for the facebook operating system.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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