Social gaming company Zynga is laying offfive percent of the company’s total workforce. That means about 100 layoffs in Austin and others in Boston.
The company says the move is an attempt to streamline operations and focus resources on their "most strategic opportunities.”
The move comes just weeks after the company’s stock plummeted 18 percent.
“Let’s not lose sight of the bigger picture. The world is playing games, and is increasingly choosing social games. Zynga has become synonymous with social gaming serving 311 million monthly active users, the largest player network on web and mobile," Zynga CEO Mark Pincus says on the company's blog.
News of the layoffs broke through the social media site Twitter as employees in Austin began informing people they just a couple of hours to clean their desks and vacate the property.
The announcement came during Apple's reveal of the iPad Mini but that didn't stop word of the layoffs from spreading fast online.
