Angry Birds must not be much more than a fad, as had been the case with many mobile games. Its recent failure caught up to Rovio, its parent, which slashed its work force.
Source: Thinkstock
The press release:
We work in businesses that are so fast moving that the only constant is change. At Rovio we have always been innovative and forward-looking, and to succeed we need to be the best at adapting to change.
We are an entrepreneurial company and have been exploring multiple areas. We have been building our team on assumptions of faster growth than have materialized. As a result, we announced today that we plan to simplify our organization around our three key businesses with the highest growth potential: games, media, and consumer products. Unfortunately, we also need to consider possible employee reductions of a maximum of 130 people in Finland (approximately 16% of workforce).
It is never easy to consider changes like this, but it is better to do them sooner rather than later, when we are in a good place to reignite growth.
At Rovio we live to delight our fans. This year we have more launches and news than ever. As we consider these painful measures, we keep our eye on always delighting our fans with products they love.
Mikael Hed
CEO
Maybe the laid off workers can spend time playing video games.
ALSO READ: Retailers Hiring the Most Employees for the Holidays
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
