Zynga (ZNGA) Plans to Trim 18% of Workforce in New Round of Cost Cuts
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Zynga (Nasdaq: ZNGA) is planning further company consolidation.
According to AllThingsD, Zynga is planning to let go of 520 employees, equivalent to about 18 percent of its workforce. Additionally, the company plans to shutter offices in Los Angeles, New york, and Dallas, as well as other cost cuts. In total, about $80 million in costs are planned to be saved.
AllThingsD notes that the recent cuts stem from a sharper than expected drop in its Web business.
Zynga is down 0.3 percent on heavier volume.
According to AllThingsD, Zynga is planning to let go of 520 employees, equivalent to about 18 percent of its workforce. Additionally, the company plans to shutter offices in Los Angeles, New york, and Dallas, as well as other cost cuts. In total, about $80 million in costs are planned to be saved.
AllThingsD notes that the recent cuts stem from a sharper than expected drop in its Web business.
Zynga is down 0.3 percent on heavier volume.
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