Remember when the Rovio IPO seemed like a sure thing? There was even buzz that the company would become the next Disney (DIS).
Well, now it looks like all of this seems more of a pipedream as Rovio’s Angry Birds franchise has been hitting the skids. Just look at today’s blog post from CEO Mikael Hed:
“We have been building our team on assumptions of faster growth than have materialized. As a result, we announced today that we plan to simplify our organization around our three key businesses with the highest growth potential: games, media, and consumer products. Unfortunately, we also need to consider possible employee reductions of a maximum of 130 people in Finland (approximately 16% of workforce).” Read