Tags: Zynga | sales | employees | games

Zynga to Cut 15 Percent of Employees as Sales Sink

Thursday, 30 Jan 2014 04:33 PM

Zynga says it is laying off 314 employees, about 15 percent of its workforce, as the game maker's fourth-quarter sales plummet.

The San Francisco company said Thursday that sales in the October-December quarter plunged 43 percent to $176.4 million, worse than the $183.5 million expected by analysts polled by FactSet.

The company's loss came to $25.2 million, or 3 cents per share. That's down from a loss of $48.6 million, or 6 cents per share, in the same months the year before.

The cutbacks are expected to generate savings of $33 million to $35 million this year.

Zynga also says it's buying NaturalMotion, creator of mobile games CSR Racing and Clumsy Ninja, for $527 million.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
Companies
Zynga says it is laying off 314 employees, about 15 percent of its workforce, as the game maker's fourth-quarter sales plummet.
Zynga,sales,employees,games
115
2014-33-30
Thursday, 30 Jan 2014 04:33 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved