Social games maker Zynga announced plans to cut around 5 percent of its workforce and discontinue some older products as part of efforts to streamline its operations in the face of slower growth. CEO and founder Mark Pincus said in a note to employees, posted on the company's blog, that the company will end 13 games, reduce its investment in the game The Ville and close its Boston studio. It's also proposing closures of the Zynga Japan and UK studios and reducing staff levels in its Austin studio. This will lead to a total reduction of approximately 5 percent in its full-time workforce. The overall cost reduction plan also includes significant cuts in spending on data hosting, advertising and outside services, primarily contractors. The company will give more details on the plans after releasing quarterly results on 24 October.
