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Rovio Announces Work Force Cuts Of Over 15 Percent
Angry Birds developer Rovio has announced changes to its business that will see the loss of up to 130 jobs. The news comes after a fiscal year that saw net profit drop by over 50 percent from €55.5 million ($70 million) to €26.9 million ($33.9 million).
This year will also see a transition in leadership, with current CEO Mikael Hed handing the reins to Pekka Rantala as of January 1, 2015. The two are currently working together on the transition, which will include a refocusing on three main pillars: games, media, and consumer products.
On the games front, Rovio launched Angry Birds Stella and accompanying telepod toys and playsets earlier this year. The company is also preparing to launch a licensed partnership with Hasbro for Angry Birds Transformers.
Casting for an Angry Birds movie was announced yesterday, and retail outlets are filled with clothing, plush toys, board games, and more themed with the brightly colored angsty avians. Angry Birds isn’t Rovio’s only property (though it is the most visible). The company also published Tiny Thief and Amazing Alex, both available on mobile devices.
[Source: Rovio (1), (2), (3) via Joystiq]
Our Take
Rovio’s business is largely predicated on the success of a single franchise. The company needs to diversify even beyond the smart Star Wars and Transformers licensing deals it’s already lined up.
The company is currently rebuilding, and it’s unfortunate that means the loss of so many jobs. Our thoughts are with those at the company’s Finland headquarters who are affected by the cuts.
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