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Zynga to cut 18 percent of workforce
2013-06-04 08:34:00| Telecompaper Headlines
(Telecompaper) Social game service company Zynga has announced plans to save an estimated USD 70 million to USD 80 million a year by shutting various offices and reducing its global workforce by 520, or 18 percent of the total. The job cuts will occur across all functions and are due to be complete by August. Zynga will take a USD 24 million to USD 26 million restructuring charge in the second quarter and USD 2 million to USD 5 million in the third quarter related to the move. The company has increased has reaffirmed its second quarter outlook for revenue, EPS and adjusted EBITDA, but has lowered its guidance for net loss. It now anticipates a USD 39 million to USD 28.5 million net loss in the second quarter, compared to its previous guidance of USD 36.5 million to USD 26.5 million. A person familiar with the matter told Bloomberg that the offices to be closed are in New York, Los Angeles and Dallas. The cost cuts are related to disappointing sales of games outside the Farmville range.
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Zynga lays off 18 percent of workforce, shifts focus to mobile
2013-06-03 22:48:23| InfoWorld: Top News
Zynga, the social gaming services company, is laying off 18 percent of its employees in an effort to reduce its cost structure. CEO Mark Pincus announced the layoffs Monday in a note to employees posted on the company's blog. Zynga, as of the end of last year, had more than 3,000 full-time employees, according to a filing with the U.S. Securities and Exchange Commission.
Peerless Industrial Group Receives "Outstanding Achievement in Workforce ...
2013-05-21 06:00:00| Industrial Newsroom - All News for Today
WINONA, MN – Peerless Industrial Group was presented an award for “Outstanding Achievement in Workforce Development” at an awards luncheon today hosted by the Winona Area Chamber of Commerce as part of their Business Celebration Week.<br /> <br /> The “Outstanding Achievement in Workforce Development” award is given to a local Winona business who has worked hard to grow and further develop their company, has taken creative measures to create new jobs and avoid ...
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Software developer wages fall 2 percent as workforce expands
2013-05-17 17:11:46| InfoWorld: Top News
The U.S. tech industry added nearly 64,000 software related jobs last year, but as the workforce expanded, the average size of workers' pay checks declined by nearly 2 percent. There are multiple theories for the decline in pay, but a common one cited by analysts is simply that the new people being hired are paid less than those already on the job.
Tags: software
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Survey tracks workforce sentiment after Facebook IPO
2013-05-15 00:27:27| CNET News.com
A new report suggests internal worries following Facebook's tumultuous IPO last year were just a little out of control. [Read more]
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