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Apps & Software

Angry Birds Maker Rovio Slashes Jobs

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By Douglas A. McIntyre Updated Published
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Angry Birds must not be much more than a fad, as had been the case with many mobile games. Its recent failure caught up to Rovio, its parent, which slashed its work force.

The press release:

We work in businesses that are so fast moving that the only constant is change. At Rovio we have always been innovative and forward-looking, and to succeed we need to be the best at adapting to change.

We are an entrepreneurial company and have been exploring multiple areas. 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. Unfortunately, we also need to consider possible employee reductions of a maximum of 130 people in Finland (approximately 16% of workforce).

It is never easy to consider changes like this, but it is better to do them sooner rather than later, when we are in a good place to reignite growth.

At Rovio we live to delight our fans. This year we have more launches and news than ever. As we consider these painful measures, we keep our eye on always delighting our fans with products they love.

Mikael Hed
CEO

Maybe the laid off workers can spend time playing video games.

ALSO READ: Retailers Hiring the Most Employees for the Holidays

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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