Zynga seeks reboot by cutting costs, jobs


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Zynga seeks reboot by cutting costs, jobs


Zynga said Wednesday, May 6, it was cutting staff by 18% amid ongoing losses, as the social games pioneer seeks to reboot its strategy. The announcement from the San Francisco group, which gained prominence with Facebook games like FarmVille, marks its second major restructuring in two years. The move came as Zynga unveiled a loss of $46 million in the past quarter, narrowing the deficit from $61 million a year ago, with revenues rising 9% from a year ago to $183 million. The company said its latest effort would seek to cut $100 million in annual costs. 

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