American game developer Zynga announced that the company will close its office in Beijing.
Zynga announced the decision while publishing its performance report for the fourth quarter of 2014. The company said that they will cut the 71 jobs in Beijing office and the related expense of USD7 million will be included in the first quarter of 2015.
According to Zynga's financial report, the company reached operating revenue of USD183 million in the fourth quarter of 2014, a year-on-year increase of 9% and an increase of 9% compared with the previous quarter. However, the company made net losses of USD45 million during the reporting period and it net losses in the same period in 2013 were USD25 million.
Zynga specializes in web game development and its products are mainly published on social networking sites such as Facebook.
Other American technology companies have recently downsized their operations in China. Cloud-based American software firm Vocus is currently liquidating its previously-profitable China operations after privatizing and merging with rival Cision. And American electronics retailer Best Buy bid farewell to its failed China experiment as it sold some of its assets to a Chinese firm at the end of last year.