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gaming company Zynga's decision to lay off 520 employees may impact its
Indian headcount as well. According to reports, around 400 employees
were working for Zynga in India as of April 2013. "We are not commenting
about specific offices - the impact will be felt across every group in
the company," said a company statement in response to an e-mail query by
ET.
The US-based gaming company started its
India operations in 2012 and has an office in Bangalore. According to
media reports, during his maiden visit to India in April, CEO and
founder Mark Pincus had said that after San Francisco, India was their
biggest centre and has been a 'terrific investment' for the company.
The
firm started its India branch with 25-30 employees and has hired
constantly since then. Around 16 management graduates from IIMs
including Ahmedabad, Bangalore, Calcutta and Kozhikode were roped in
2012 for the profile of product managers. Shan Kadavil, country head for
Zynga India, refused to comment on the India impact of the layoffs.
The
company did not share any other details of what level of employees
would be asked to leave from the India office and the kind of severance
package that would be given. The layoffs are expected to get completed
by August.
The global workforce reduction of
18% of the overall staff count was announced to save an estimated $70
million to $80 million in pre-tax annualised cash expense. "Zynga also
expects to record an estimated $15 million reversal of stock-based
expense in the second quarter of 2013 as a result of the net impact of
these workforce reductions," the company said on its website.
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