The social game company Zynga will reduce its workforce by 18% over the next 12 months. This means that 364 employees will lose their jobs as the publisher attempts to save costs.
Zynga lost $46.5 million in the first three months of 2015, despite a 9% rise in revenue to $180 million. It hopes that the workforce reduction will save them $45 million.
“Over the years we’ve seen that tighter, more nimble teams can drive faster innovation and deliver more player value,” said Mark Pincus, founder of Zynga. “This was a hard but necessary decision and I believe this plan puts us in the best long term position for success.”
Zynga went through a similar cost-saving process two years ago. The company will launch between six and eight new games in 2015 to try and restore profitability.
Via Zynga