Above: Angry Birds merchandise.
Finland’s Rovio Entertainment, the company behind Angry Birds, has finally hit a wall.
In a blog post Thursday, the company said it would fire 130 people, or about 16% of its workforce.
The company has ridden the wild success of this game for several years now, branching out into all types of merchandise, an animated series, and a planned feature film.
Alas, the good times appear to be over. Users are floating away, and growth has not been as good as what the company expected.
“We have been building our team on assumptions of faster growth than have materialized,” wrote Rovio chief executive Mikael Hed in the blog post. As a result, we announced today that we plan to simplify our organization.”
Perhaps the biggest surprise here is that the news comes just a few months after Rovio had raised €25 million in new financing. Until now, Europe’s tech market had been speculating and when Rovio might go public.
More to come.
Angry Birds maker Rovio plans big job cuts as users leave the flock
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