The death knell of Rovio is ringing louder. Just a month after the CEO of the Angry Birds developer resigned amidst sagging profits, the company announced 16 percent of its staff is being flung out the door.
The Finnish games company, which shot to fame with the online and mobile game featuring colored, flying birds, said it would cut 130 staff, or about 16% of its workforce, amid flattening revenue and difficulties finding fresh growth opportunities. The company said it had bulked up its staff in anticipation of stronger growth.
"We have been building our team on assumptions of faster growth than have materialized," the company said in a statement.
Fad games rarely turn into successful companies, as Zynga and Candy Crush maker King Digital have already learned. Rovio tried to escape its ill fate and released a few games that didn't carry the tired Angry Birds brand. But those games weren't successful enough to prop up the struggling company, and now the downward spiral into the startup sewer begins.