Zynga Posts Record High Lay-Offs; More to Come

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  06 June 2013
Zynga Posts Record High Lay-Offs; More to Come

Shares of Zynga (ZNGA) were rocked yesterday on news that the maker of games no one plays anymore would be laying off 18% of its work-force. The roughly 520 layoffs represents a 3.5x increase over the number of employees the company dumped last fall.

The increase in firings represent the closest thing to "growth" Zynga has managed to acheive in its life as a public company.

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  06 June 2013
That's a surprisingly aggressive take on the situation. The title of "Zynga: Still about 2,300 lay-offs to go" is harsh (because that's about how many employees the company has). Not saying it's not appropriate or accurate, just that they usually sugar-coat news like this.

Kind of shocking that the internet/gaming/IPO bubble still exists. I guess Wall Street never met a (supposed) cash cow with no legs it didn't like.

Sympathies to all those affected.

  06 June 2013
For those that might be interested, there's an AMA ("Ask Me Anything") on reddit by a former employee. Lots of interesting insights into the company from a fairly even-handed ex-employee (who I do not know).

  06 June 2013
i only noticed one thing

I did not read much. but the former employee said he got 4.5 months of pay as a severance package, and he/she had worked there about 2 years. omg, wow. that is incredible. well, uh . . . I mean at least to me. good luck to them all in finding their next job!

" . . . the essential in life is invisible to the eye, one can only see rightly with the heart." (The Little Prince)
  06 June 2013
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