Rovio Restructures, Plans Cuts

The new reorganization will see the elimination of up to 260 jobs across all of the company's operations, except in the team working on the production of the upcoming

Angry Birds Movie

in the U.S. and Canada.

Angry Birds Movie

is slated to hit theaters May 20, 2016.

“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.”