Zynga to shed 18% of workforce

Zynga is set to lay off 364 staff as part of its plans to stem its losses and move back into profit.

The job losses represent 18 per cent of its entire workforce. Layoffs are expected to be completed by the end of the year with anticipated savings of $45m.

The news comes as Zynga reported losses of $46m for the three months ending March 31st. This was down however from 2014 when the company’s losses hit $61m.

Monthly active users for Zynga’s games were up three per cent to 1.1m during the quarter, but down from the 1.3m reported last year. Daily active users were up four per cent from Q4 in 2014, but down 3m from the same period in 2014.

Head over to Develop for the full picture.