Zynga – the online gaming company which had launched games such FARM VILLE & Draw Something will LAYOFF 520 employees across the world by AUGUST 2013.
Almost 400 people are working for Zynga in India located at the Bangalore Office. CEO Mark Pincus(Harvard Business School MBA graduate) , promised that laid-off workers would receive generous separation packages.
Management graduates from IIM – Ahmedabad, Bangalore, Calcutta and Kozhikode were hired as product managers to operate the organisation.
By reducing an 18% workforce the Zynga will save an estimated $70 million to $80 million in pre-tax annualised cash expense. It was said that “Zynga realized tying 100 per cent of their revenue to a single platform — Facebook — was an weak idea,”