LAYOFFS: Zynga To Slash 18 Percent Of Workforce

The ax has begun to fall at troubled game developer Zynga again, as the company confirmed that it will lay off 18 percent of its workforce, lowering its pretax annualized cash expenses by $70 million to $80 million, and AllThingsD reported that Zynga is shuttering its offices in New York, Los Angeles, and Dallas.

Monday’s news marks the latest in a run of staff reductions for Zynga:

The developer said the layoffs will “occur across all functions” and should be completed by August, adding that the company will record pretax restructuring charges of about $24 million to $26 million in the second quarter of 2013 and $2 million to $5 million in the third quarter.

Readers: Will Zynga be able to right the ship?

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