Seeking Alpha

Zynga (ZNGA -4.3%) used Apple's iPad Mini event to fire over 100 workers, claims gaming...

Zynga (ZNGA -4.3%) used Apple's iPad Mini event to fire over 100 workers, claims gaming journalist Ian Miles Cheong. CEO Mark Pincus hinted layoffs were coming following Zynga's ugly Q3 bookings warning. The company has over 2,800 employees.
Comments (3)
  • wigit5
    , contributor
    Comments (4214) | Send Message
     
    To avoid press?? Seems like an odd choice being as that would probably create more bad press than simply coming out and saying "look were not doing as well as we thought we would be and unfortunately in x days we'll need to layoff x amount of people"

     

    Now they just look like heartless douchebags who will not be getting another penny from me or another minute of my user time.
    23 Oct 2012, 02:42 PM Reply Like
  • J Mintzmyer
    , contributor
    Comments (4155) | Send Message
     
    Nice catch Seeking Alpha- ZNGA is worth the cash on their balance sheet AFTER earnings and not a penny more.
    23 Oct 2012, 02:51 PM Reply Like
  • SunshineNowExcellent
    , contributor
    Comments (8) | Send Message
     
    Mark's management style is *very* reminiscent of the early days at Apple computer, which -- by the way kids -- started in 1976, long before most of you were in a position to know of Apple culture back then. Steve Jobs in his early days made 'growing pains' mistakes as he learned how to manage himself while managing Apple. It's not easy going from zero to one of the most successful brands practically overnight as Steve Jobs found out. Read about why Steve J. got fired -- Steve learned, over time. how to 'manage' his tough taskmaster side and about how to get people on your side and about good PR. Steve did *not* have those skills before his firing from Apple in the 1980s. Mark Pincus is learning too so go easy. Furthermore, many investors in the firm have been looking for signs of culling the herd -- ask Scott McNealy how 'holding on to staff regardless of business conditions' works (not). Mark will keep streamlining the firm -- ADULTS LIKE THAT.
    23 Oct 2012, 06:03 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs