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Zynga attacks costs, to slash headcount by 15 percent

31
Jan
2014

By Malathi Nayak and Gerry Shih SAN FRANCISCO (Reuters) – Zynga Inc will slash costs in 2014 by shedding 15 percent of its workforce, the company that developed Farmville said on Thursday, adding that it will bolster its pipeline of new mobile games by buying game developer NaturalMotion for $527 million, moves that sent its stock up 20 percent after hours. The San Francisco-based game company said it expects to cut 314 jobs as part of an expanded cost savings plan. Zynga also posted a narrower-than expected quarterly loss, and its shares soared to $4.26 after closing at $3.56 on the Nasdaq. Zynga said it acquired NaturalMotion, which has created games like Clumsy Ninja for Apple mobile devices, for $527 million in cash and stock in a bid to grow its mobile game revenue.

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