FarmVille Maker Zynga Closes the Barn Door Too Late on Escaping Money
Filed under: Technology, Media, Facebook, Entertainment
Zynga (ZNGA) hit investors with bad news from both sides on Tuesday.
First it was a grim memo announcing that the social gaming leader would be laying off 5% of its employees, closing down an office, scaling back its investments in The Ville, and suspending the development of 13 older titles.
The memo from CEO Mark Pincus to his employees came just around the time that Facebook (FB) was reporting better than expected results.
Zynga investors would typically be cheering a strong…
FarmVille Maker Zynga Closes the Barn Door Too Late on Escaping Money originally appeared on DailyFinance.com on 2012-10-24T12:31:00Z.
Permalink | Email this | Comments
http://www.dailyfinance.com/2012/10/24/zynga-layoffs-farmville-games-suspended/