Dive summary:
- Zynga, creator of Farmville and other online games, has announced it will cut 520 workers resulting in an 18% reduction in staff.
- The cuts will be completed by August and will result in $70-$80 million in savings this year.
- While the Farmville series is still performing well, Zynga's other games have had disappointing results and are the reason for the layoffs.
From the article:
"Zynga is trying to navigate a decline in desktop-based playing and consumers' increasing turn toward mobile devices. Last month it pitched ad buyers at the Digital Content NewFronts, talking up mobile video ads as an important focus for the company."