Social gaming giant Zynga has been under a lot of pressure as of late as they're looking to transition their business over towards the mobile space. As a result they have announced that they are letting 520 employees, or 18 percent of their work force, go as they are closing down. According to AllThingsD offices in New York, Los Angeles, Austin and Dallas are being shut down.
Furthermore Joystiq reports that OMGPOP, the studio behind Draw Something, a company Zynga bought for a reported $180 million in March of 2012, has been shut down.
The rise and fall of Zynga has been very dramatic, and it remains to be seen if these cutbacks and the new strategy can turn things around for the company.