Zynga CEO dismisses post-IPO staff exodus claims

Zynga CEO dismisses post-IPO staff exodus claims
Craig Chapple

By Craig Chapple

December 19th 2011 at 11:48AM

'Our employees have a real love and pride for the company'

Zynga founder Mark Pincus has dismissed suggestions that a large number of employees will leave the studio following its IPO on Friday, insisting employees “love” the studio.

Speaking to CNNMoney, he said employees were “proud” to work for the company and that staff had been asked not to defend the company in the press whilst the initial public offering went ahead.

“Our employees have a real love for Zynga and real pride,” claimed Pincus.

“We've asked them not to go out and defend us in the press or blogs, so I don't think that's come through publicly yet.”

He added: “When we're past the acquire period and you can talk to actual employees, I think they'll tell you they have more opportunity for mobility here than if they worked at any other company.”

It had previously been suggested that the way the company allegedly treats staff and the IPO would lead to a staff exodus, with competitors poaching unhappy employees with more enticing offers.

EA’s head of HR Gabrielle Toledano told The New York Times “We’ve learned that when companies treat talent as a commodity, the consequences are severe. It takes years to repair a reputation.”

Pincus countered this however and claimed more than 60 per cent of staff at Zynga gain a promotion each year and all believe in the direction the company is taking.

The browser game giant launched its IPO on the New York stock exchange on Friday, raising $1 billion for the studio, the biggest public offering from a US internet company since Google in 2004.