Earlier today, we heard that Zynga had laid off a number of workers and had shut down its Boston studio. At the time, those were only reports, but this afternoon Zynga CEO Mark Pincus confirmed the layoffs and the studio closure to employees in an internal letter posted by Joystiq. In the letter, Pincus explains that not only will Zynga be closing its studio in Boston, but also reducing the workforce at its Austin branch.
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‘zynga’ Stories
Zynga quietly lays off employees during Apple event
Amidst all of today's hype and excitement for Apple's iPad mini event, there's another side of the spectrum that isn't doing so well today. Social-gaming development company Zynga has quietly laid off over 100 employees at its Austin branch. Reports are also saying that Zynga's Boston and Chicago studios are also experiencing sudden layoffs and even studio shutdowns.
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Zynga reportedly handed out stock to keep workers from leaving
Things haven't been looking good for Zynga lately. Not only has its stock dropped by a pretty large amount since it went public in December, but it's apparently had to offer incentives to keep its employees from leaving. Bloomberg reports that the company was forced to hand out stock to prevent what analyst Arvind Bhatia calls a "mass exodus," which certainly makes things seem dire for the social games giant.
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Zynga COO John Schappert resigns after losing duties
Zynga has lost one of its biggest players, as it announced that COO John Schappert has resigned. In a statement sent to Fortune, Zynga CEO Mark Pincus confirmed that Schappert had left the company and its board of directors "effective immediately." He didn't say why Schappert had left the company, but it sounds like a rather abrupt departure.
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SlashGear Evening Wrap-Up: August 3, 2012
Welcome to the weekend, everyone! We're about ready to dive into the weekend ourselves, but not before we deliver the evening wrap-up. As with every other day this week, today gave us some more news about Apple's patent trial with Samsung, with Judge Lucy Koh interviewing each and every one of the jurors to make sure they weren't being swayed by any outside influences. Apple's senior VP of worldwide marketing Phil Schiller took the stand today to convince the jury that the iPhone's design was unique, while the company's legal counsel did its best to make sure that Samsung didn't share any iPhone sales numbers. Judge Koh also said that Apple wasn't allowed to keep its customer survey results a secret, so Samsung did get a bit of news that could help it out as the trial progresses.
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Electronic Arts taking Zynga to court over The Ville
Well what do we have here? Apparently Electronic Arts thinks Zynga ripped off The Sims Social and is now taking the social games giant to court. More specifically, Electronic Arts claims that Zynga committed copyright infringement with The Ville, which does look quite similar to The Sims Social. Of course, we've known that EA has felt this way about The Ville for a while now, with EA complaining about the similarities between the two since The Ville launched in June.
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Zynga hit with investigation over questionable stock sell-off
Things just went from bad to worse for some of the folks at Zynga. Earlier this week the company delivered a less-than-stellar quarterly financial report, and now Ars Technica is reporting that some executives and shareholders are under investigation for dumping over $500 million in stock before the bad news hit and Zynga's stock price took a dive. In other words, a few Zynga higher-ups could be in a whole lot of trouble.
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Zynga reports $23m social gaming loss as Facebook worries mount
Social game and Facebook stalwart Zynga has reported a dire financial quarter, casting a pall over casual gaming and leaving investors concerned that Facebook itself will underperform. On the surface, Zynga was doing everything right: daily active users were up year-on-year in Q2 2012 from 59m to 72m, with monthly unique and active users also both up (to 192m and 306m respectively). However, that still wasn't enough to avoid a net loss of $22.8m, despite online game revenues rising 10-percent year-on-year
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Zynga to offer real-money gambling in 2013
Enough with that silly fake money in Farmville and the lack of real-world thrills in Zynga Poker. The country's favorite social game company is looking to expand into the world of sin and will offer a poker game that allows players to gamble actual money sometime in the first half of 2013. However, don't expect it to be hosted - or perhaps even playable - in the US, where online gambling is all but expunged due to several state laws banning the practice.
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Zynga posts $22.8 million loss in Q2 2012 report
Zynga's report for its second quarter has landed, and some things about it aren't looking too hot. The social games giant reported a loss of $22.8 million for the quarter, which is down from the $1.4 million the company made during the same quarter last year. Revenue, on the other hand, was up for the quarter, rising 19% year-over-year to $332 million, so the news isn't all that bad.
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Zynga and Hasbro take Farmville offline with new card game
Last month, Zynga released Farmville 2 after being wildly successful with the initial Facebook-based version. Now, the company has taken the highly addictive farming game offline and developed a new card game for ages four and up, called Farmville Memory. Zynga had started making deals with toy companies in February, which included a licensing deal with gaming company Hasbro.
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Zynga working on cross-platform gaming network
Zynga has announced that it's hard at work on a cross-platform gaming network that will allow people on different devices to play the same Zynga video games together. The company plans to call the gaming network Zynga With Friends. The goal of network is to take the 290 million people that play the company's games each month and allow them to play together across multiple platforms.
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