Angry Birds maker Rovio cutting jobs by 16 percent

This undated image released by Rovio shows a poster of... — This undated image released by Rovio shows a poster of the company's Angry Birds app.

By THE ASSOCIATED PRESSOctober 2, 2014

Mobile game developer Rovio Entertainment Ltd. says it plans to cut some 16 percent of its workforce facing signs that its Angry Birds game is losing some of its luster.

CEO Mikael Hed said Thursday in a statement that Rovio expects to cut up to 130 jobs in Finland as the company had been building its team on assumptions of "faster growth than have materialized." The company, based in Espoo, Finland, currently has about 800 employees.

Privately owned Rovio has grown by double-digits since the 2009 launch of Angry Birds and the wide-ranging merchandise that followed.

However, its earnings growth has stalled in the past year as industry reports suggest Angry Birds has lost some of its popularity.

Rovio estimates that more than 200 million people play Angry Birds.

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