Zynga lays off 520 employees, closes several offices in hopes of saving up to $80 million


Zynga today announced that it’s laying off 520 employees, with the cuts affecting 18 percent of its workforce around the world. The company is also shuttering offices in Los Angeles, New York, and Dallas as part of what it’s calling “substantial cost reductions.” These reductions are expected to be complete by August. Describing today as “a hard day for Zynga” CEO Mark Pincus said, “I think we all know this is necessary to move forward. The scale that served us so well in building and delivering the leading social gaming service on the web is now making it hard to successfully lead across mobile and multiplatform, which is where social games are going to be played.”

Pincus says employees affected by the firings will receive “generous…

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