Social gaming giant Zynga is downsizing once again and cutting about 18 percent of all jobs in order to stop losing money, the company announced via a investor relations press release today following their annual company report. 364 people will lose their jobs because the management tries to cut $100 million in operational costs.
"For our people, we need to create an empowered, entrepreneurial culture that fosters more creativity and innovation," Zynga CEO Mark Pincus wrote in a statement. "Over the years we've seen that tighter, more nimble teams can drive faster innovation and deliver more player value. As a result, today we announced a cost reduction program to focus, simplify and align us against our most promising opportunities."