Zynga has announced that it will cut almost 20% of its workforce in a measure to cut costs.
The measure is expected to mean some 500 plus jobs will be lost at the online social gaming giant, who recently went into real money poker online with partner bwin.party.
The job losses are expected to slightly help second quarter results which analysts believe will be in the $30 million minus bracket.
‘None of us ever expected to face a day like today, especially when so much of our culture has been about growth,’ Chief Executive Mark Pincus said in a memo to employees. ‘But I think we all know this is necessary to move forward’.