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

Quote:
"
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.

"
http://finance.yahoo.com/blogs/brea...22876.html?vp=1
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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.
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  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).
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  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!
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  06 June 2013
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