Mobile game developer Rovio Entertainment Ltd. says it plans to cut some 16 percent of its workforce amid signs that its Angry Birds game is losing some of its luster.
CEO Mikael Hed said Thursday in a statement that Rovio expects to cut up to 130 jobs in Finland as the company had been building its team on assumptions of "faster growth than have materialized." The Espoo, Finland-based company currently has about 800 employees.
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Privately-owned Rovio has grown by double-digit numbers following the 2009 launch of Angry Birds and the wide-ranging merchandise that followed.
However, its earnings growth has stalled in the past year as industry reports suggest Angry Birds has lost some of its popularity.
Rovio estimates over 200 million people play Angry Birds.