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Rovio cuts jobs as growth stalls
FINNISH Angry Birds creator Rovio plans to cut up to 130 jobs, or 16 per cent of its workforce, saying growth has not been as strong as expected and it needs a simpler structure.
Aiming to become an entertainment brand on a par with Walt Disney, Rovio has recently expanded the Angry Birds franchise into an animated TV series, toys and clothing. It is also working on an animated movie, expected in 2016.
But it has struggled to retain players amid competition from new games, with operating profit halving last year to €36.5m (£28.6m) due to investments and stalling sales.