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Rovio admits it's not seeing fast enough growth, plans to lay off 16% of staff

Rovio admits it's not seeing fast enough growth, plans to lay off 16% of staff

October 2, 2014 | By Mike Rose

October 2, 2014 | By Mike Rose
More: Smartphone/Tablet, Business/Marketing, Recruitment

Angry Birds studio Rovio today stated that it is looking to simplify its organization, and may cut up to 130 people from its workforce as part of that process.

The company's CEO Mikael Hed admitted that the company has "been building our team on assumptions of faster growth than have materialized."

Now Rovio will be simplified around three business areas that Hed sees most potential for growth in: 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)," he added, calling the measures "painful."

Rovio has had a rocky year. 2013 saw the company's profits halved, leading the mobile studio that built its business on games to consider transitioning its core focus away from games.

Hed is even planning to leave the company at the end of this year.

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