Closures Hit Social Game Maker: Zynga; 18 Percent Laid Off

Today, confirmation came from Zynga, a maker of social games that "substantial cost reductions" are planned. And, in order to facilitate this, Zynga CEO Mark Pincus states that the company will layoff 18 percent of its workforce. Furthermore, Zynga's studios in New York, Los Angeles, Austin, and Dallas will cease to operate. Zynga is expected to be hit with upwards of a $39 million loss for their second quarter. Zynga wouldn't confirm the closures of the studios.  

Full press release -- > here: [http://tinyurl.com/l5sjdse]

Source: Joystiq