Social gaming operator Zynga has announced plans to lay off 18 per cent of its global workforce, causing its share price to drop by more than 12 per cent late Monday.

Chief executive Mark Pincus told employees in an email Monday that the scale of the business, which has helped make it the leading social gaming service on the web, is now making it hard for the company to successfully lead across mobile and multiplatform where social games are going to be played.

Premium subscribers continue here to the full article.