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My how the mighty have fallen. In a massive cut to return to profitablity, Zynga has closed its Los Angeles, Dallas and New York-based studios and layed off more than 500 employees. The cuts are across all departments and it results in a loss of about 20% of its business capacity. The layoffs will be phased over the summer and should be completed by August 2013. The latest move is the largest of its restructuring efforts and resulted in the largest loss of jobs.

As usual, NGN extends its condolences and wishes good luck to those effected.

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