HELSINKI -- Mobile game developer Rovio Entertainment says it plans to cut some 16% of its workforce amid signs that its Angry Birds game is losing some of its luster.
CEO Mikael Hed said in a statement on Thursday 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 has materialized." The Espoo, Finland-based company currently has about 800 employees.
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Privately owned Rovio has grown by double-digit numbers following 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 decreased in popularity.