Zynga Lay Off To Affect India Workforce
Bangalore: Social gaming company Zynga’s decision to lay off 520 employees, will also affect its Indian work force as well. According to an email response to ET, the impact will be felt across every group in the company. As of 2013 400 employees were said to be working for the firm in India.
The firm which started its operations in India in 2012 has its office in Bangalore. The operations started with 25 to 30 employees and hiring was constant since then. Graduates from IIM including Ahmedabad, Bangalore, Calcutta and Kozhikode were taken in 2012 as product managers.
When CEO Mark Pincus visited India recently, he said that India was one of the biggest centres which was a terrific investment for the company after San Francisco.
Country head for Zynga India, Shan Kadavil refused to pass comments regarding the impact of layoffs. The company did not even share any other details of what levels of employees were asked to leave. However it is known that the layoff will be completed by August.
The overall employee reduction of 18 percent was announced in order to save $70 million to $80 million in pre-tax annualized expense. The company has also stated in its website that it hopes to record an estimated $15 million reversal of stock-based expense in the second quarter of 2013 which would result as a net impact of these workforce reductions.
