Tuesday October 27, 2015 : ZYNGA TO LET GO MORE THAN HALF OF ITS IRISH WORKFORCE
Cost cutting measures to offset decline in revenue.
Latest trading updates from social gaming firm Zynga reveal the planned redundancy of 366 or 18 percent of its European workforce of which Ireland faces the highest ratio of 22 people or 60 percent.
According to the Irish Independent, Zynga reported a drop in overall revenues of $100 million with losses rising dramatically from $5.14 million to $86.7 million.
“There is a decline in revenues driven by a global decrease in sales year over year,” the Director’s report reads. “The decrease in revenue is mainly due to a decrease in user-pay bookings as well as revenues from certain games decreasing”.
In addition, Zynga Inc. said additional cost reduction measures will be implemented including lowering its data centre infrastructure spend.