Zynga slashes one fifth of staff

SOCIAL game developer Zynga yesterday announced its biggest ever round of layoffs, cutting around one fifth of its workforce.

The Farmville creator warned of weak bookings for the current quarter, raising doubts about the firm’s attempt at a recovery.

Zynga said it will cut about 520 jobs and close some offices in the United States.

Analysts said the latest warning on bookings did not bode well for the company. Zynga’s shares slid as much as 15 per cent and closed down 12 per cent at $2.99.