Rovio Restructures, Plans Cuts

“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,” says Pekka Rantala, chief executive officer, Rovio. “This is personally a difficult decision. However, it is certain that a leaner and more agile Rovio is absolutely necessary to move forward and take the company to new successes in the future. Rovio’s growth and eagerness to explore new business opportunities over the past few years has been exceptional. As a result, we did too many things. In our current financial condition we must now put focus on where we are at our best: in creating magnificent gaming experiences, in producing an amazing animation movie and in delighting our fans with great products.”