Rovio, maker of Angry Birds, axes over one-third of its employees

Following lackluster 2014 earnings, the Finnish company behind Angry Birds has now decided to cut 260 jobs—or over a third of its workforce of 700—not a good sign for the gaming studio. "This is personally a difficult decision," CEO Pekka Rantala said in a Wednesday statement. "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. We will work with and support all our employees through this period of change."

In October 2014, Rovio cut 130 jobs and in March of this year released some 2014 financial data showing that its annual revenue of €158.3 million ($180.3 million) was down year-over-year by 9 percent. Privately held Rovio did not disclose its 2014 profits. By contrast, in April 2014, Rovio announced 2013 annual profits of €26.9 million ($34 million), a notable drop from €55.5 million ($70.2 million) from the year before.

It also seems that people are less and less interested in plush dolls: "The year on year decline of consumer product licensing revenues impacted revenue and profit."

At least the Angry Birds movie is still on track for a 2016 release.