From PC World: Rovio Entertainment, the Finnish company behind mobile game hit Angry Birds, will lay off up to 130 people in its home country.
The company will be laying off about 16 percent of its workforce, Rovio’s CEO Mikael Hed said Thursday.
“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,” Hed said.
The layoffs come just months after the European Investment Bank (EIB) agreed to grant Rovio €25 million (about US$31.6 million) in financial support in June.
One of EIB’s top priorities is supporting job creation and growth through innovation by medium-sized companies. At the time, the investment bank complimented Rovio for demonstrating strong growth in revenue and staff, expanding from 200 employees at the beginning of 2012 to over 800 at the end of 2013.
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