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Zynga Announces Layoffs for Cost Reduction

Zynga, the game manufacturer is to downsize a whopping 18% of its staff at various locations spread throughout the United States. This major layoff is a necessary part of the move to progress beyond the present financial straits Zynga finds itself in.

Jun 4 2013, 7:01am CDT | by

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Zynga Announces Layoffs for Cost Reduction
 
 

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Zynga Announces Layoffs for Cost Reduction

Zynga Announces Layoffs for Cost Reduction

Sometimes what hurts you can heal as well. This seems to be the case with Zynga, the video game producer, which is to downsize over 500 of its employees in an unprecedented move, the first of its kind in its entire history. According to an official press release, the real reason why this action was taken was to slash costs since the company was not doing well in the market. Furthermore, 18% of its workers are to be given the pink slip. The troubled times the firm is going through will be mitigated only through this harsh experience of economic cleansing. A number of stores are to be closed down although the exact locations were not disclosed. The main venues may be New York, Dallas and Los Angeles. The amount saved after the restructuring is over may reach $80 million. This will be accomplished within the time span of three months. As for the losses incurred along the way, they ought to be covered via some tough decisions that need implementation. It was a sad time for Zynga since it was originally a progressive organization. With this downturn in fate there is a need for lean thinking.

Actually what worked in the past is obsolete in today’s futuristic world. The CEO of Zynga, Mark Pincus spoke of how the online social gaming environment had given way to the mobile phone reality for which Zynga was unprepared. The shock to the system has been considerable and for now the prospects don’t look rosy. The adaptability was too little too late. Having suffered heavy losses, Zynga is planning on retaining its customers. Yet the demand is dwindling.

Zynga wants to offer fun-filled hours of gaming pleasure to its user base. For this it will need some serious soul-searching in order to find out what exactly went wrong and where. The goal before the gaming giant is to mimic other top contenders on the scene such as Supercell and King.com. The company has shed its working staff from time to time. Whether any future dumping will take place is a moot point. The current situation at least is not one of confidence but caution. Zynga has to pull itself up by its bootstraps and think positive. This is so as to insure a brighter future both for itself and its employees.

 

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Barry Silbert Is Planning To Spin Off SecondMarket's Bitcoin Business

Source: Business Insider

SecondMarket founder and CEO Barry Silbert is stepping aside from running the firm's private shares business to focus on Bitcoin. He'll remain Chairman and CEO of SecondMarket Holdings, Inc., but now plans to spin off the firm's digital currency activities. Silbert has been a leading cryptocurrency evangelist, and is currently planning on launching the first U.S. Bitcoin exchange network ...
Source: Business Insider   Full article at: Business Insider 4 days ago, 3:40pm CDT
 


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Yahoo reportedly nearing an agreement to acquire Flurry

Source: Tech.co.uk

Yahoo is reportedly nearing a deal to acquire mobile advertising analytics company Flurry. Yahoo will pay at least $300 million for Flurry, according to reports.Flurry offers mobile advertisers the ability to leverage consumer data to produce personalized advertisements via banner ads, interstitials and video. The technology measures user behavior in applications by tracking taps, level completions, and purchases in order to understand the user ‘s path to purchase. Flu ...
Source: Tech.co.uk   Full article at: Tech.co.uk Jul 21 2014, 3:39pm CDT
 

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Win a Trip to See Lucy Hale at The Grand Ole Opry courtesy of FarmVille 2: Country Escape

Source: Just Jared

In celebration of the newly released FarmVille 2: Country Escape app, Zynga invites you to be a part of Lucy Hale’s country music debut. Enter for a chance to win a trip for two to see Lucy perform at Nashville’s iconic Grand Ole Opry. Join Lucy as she performs songs from her debut country album Road Between. Enter the giveaway below! Adam Levine is reportedly apologizing to his exes before his wedding – US Weekly Kim Kardashian‘s BFF Brittny Gastineau sports a big ...
Source: Just Jared   Full article at: Just Jared Jun 11 2014, 10:15am CDT
 

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E3: Microsoft Goes Games First And Only In Briefing

Source: Deadline

It didn’t take Phil Spencer, Head of Xbox for Microsoft, long to tack back from last year’s entertainment focus to one purely about games, which is all he said he would talk about during this morning’s presentation to media and analysts ahead of the big E3 videogame conference in Los Angeles. “This generation (of game consoles) is off to the hottest start in history,” Spencer said. “This benefits everyone…especially gamers ...
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3 crazy-big downtown Orlando ideas: Parks under I-4, revamped Lake Eola amphitheater, Thornton Park Westside

Source: Orlando Business Journal

Close your eyes and think of downtown Orlando in 20 years. You work downtown for a massive tech company, but not Apple or Zynga; this tech firm sprouted in downtown and went public two years back. You get off work and head home to Thornton Park Westside, a thriving multi-cultural bohemian neighborhood that used to be called Parramore. That night, you try to decide between catching a concert at the revamped amphitheater at Lake Eola or the indie music festival happening underneath I-4. Y ...
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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
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