Rovio will lay off up to 260 staff as it aims to completely restructure the firm and reinvigorate its falling revenues.
The redundancies will apply to the entire organisation. This excludes employees working on the upcoming Angry Birds Movie.
Rovio CEO Pekka Rantala said in its current financial condition, the company needed to focus on three core areas: games, media and consumer products. He admitted that the publisher had done "too many things" after the early success of Angry Birds.
While we have gathered good momentum this year, especially with the launch of the Angry Birds 2 game – downloaded nearly 50 million times in its first month of release – fundamental changes are needed to ensure Rovio succeeds in its global ambitions to be the leading entertainment company with mobile games at its heart,” said Rantala.
Develop has more details.