Rovio Hit With Layoffs

Posted on by Ryan

Rovio CEO Mikael Hed announced today that the company will be laying off 16% of it’s workforce, which equals out to around 130 employees losing their jobs. This is most likely due to profits only being half of what was originally forecasted. Hed released this statement…

 

“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. 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.”

 

Rovio is most famous for the wildly successful Angry Birds franchise.