Angry Birds maker Rovio to cut 20 jobs in restructuring move

The job cuts won't necessarily happen in Finland, but could impact Rovio employees in different parts of the world.

File picture of Rovio Angry Birds character / Credit: Rovio

Rovio, the parent company behind the hit global gaming phenomenon Angry Birds has started talks to cut a number of positions.

The Espoo-based company has started co-determination talks with 32 employees and says up to 20 may lose their jobs.

The jobs at risk are in the company’s brand licensing unit which is plans to restructure.

“Rovio has a unique asset, the Angry Birds brand that enjoys a very high global awareness. However, the competition in the licensing business, especially for consumer products, has intensified” says CEO Kati Levoranta in a statement.

“Thus, we aim to do things more efficiently, adjust our way of working and rearrange our brand licensing operations accordingly. The planned changes will not affect our games business” she adds.

The jobs cuts won’t necessarily be in Finland, but they could impact employees in different parts of the world.

Rovio recently announced some lower-than-expected financial numbers for the first half of 2019. The company said in September that it wouldn’t meet its profit targets for this year.

The announcement initially knocked about 25% off the value of the company on the stock exchange.

Rovio says it is putting more money into developing some of their newer games.