According to a report published in the Wall Street Journal, a person close to Zynga’s (NASDAQ: ZNGA) matters has said that company’s Chief executive; Mark Pincus has issued stock options to every employee of the company.
Lately the Company’s shares have been under tremendous pressure following its disappointing quarterly earnings results.
Issuing stock options to all employees by Zynga is seen by many as an effort to retain employees. In general, providing incentives such as stock options to employees help in boosting company’s stock price.
The gaming company, which mainly uses Facebook (NASDAQ: FB) as platform, reported a loss in its fiscal second quarter. Zynga’s stock has taken a serious beating, sliding 70 percent from December when it made an IPO at $10 a share.
In the past, the company has also held meetings in which employees were often awarded trips to Las Vegas, Hawaii, or even cash bonuses and equity grants. But according to sources, this is the first time ever when the Company has decided to grant stock options to all of its employees.
Amid falling appetite for games on Facebook, Zynga is now trying to shift from its current business model. With more and more gamers preferring to play on mobile platforms and tablets, Pincus is reforming Zynga as a multi-platform social game company which will focus on the latest trends.
Meanwhile, Company’s Chief Operating officer John Schappert resigned from his post on Wednesday, following Pincus’s decision to strip him from overseeing products a week earlier.
Apparently, Pincus wants to fix all problems confronted by the company through hands-on approach.
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