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Zynga Cutting 18 Percent of Staff
Thursday May 7,2015 : ZYNGA PLANNING STAFF CUTS
18 percent cut envisaged to get back to profitability.
Despite a relatively positive first quarter in which revenues rose 9 percent to $183.3 million and net losses were reduced to $46.5 million, the troubled San Francisco-based social gaming giant Zynga has announced plans to cut staff numbers.
The company says the cuts will save around $45 million a year and affect around 18 percent of its staff as a return to profitability is sought.
Two years ago the company laid off 520 people.
News of the latest job cuts plan saw the company's share price rise more than 9 percent.
Zynga's quarterly showed that the company's belated recognition of mobile as an essential channel has resulted in 63 percent of its $167.4 million virtual product sales in the quarter emanating from mobile...a massive increase compared to the previous year. Monthly and daily mobile user numbers were both significantly up.
On the gaming front, casino sales were up 55 percent y-o-y, with slots titles particularly successful
The company will be concerned at a drop in its player conversion rate, which is now at 1.5 percent, with average daily user numbers down 3 million to 25 million, although average daily sales per user were up 18 percent in the quarter to 6.5 US cents.
Looking ahead to the end of Q2, the company says it expects its net loss to rise to as much as $54 million.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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