Zynga Announces Mass Layoffs During Apple Keynote

According to a tipster over at Gamasutra, social gaming giant Zynga is in the process of closing down their entire Austin studio.

The announcements came down this morning, during Apple's keynote introducing the new iPad Mini, among other new products.

In the comments section, Gamasutra news director Frank Cifaldi indicates that his tipster is unavailable for further comment at the moment, as they are in the process of leaving the building. According to the tipster, over 100 former Zynga employees are also currently packing up their gear right now and heading out of the building.

There are also rumors that the Chicago and Boston area offices are experiencing similar cutbacks. Zynga will soon announce their third quarter earnings results, which are projected to be more of the same. If this turns out to be true, it could be the company's way of adjusting to their falling stock prices, which have yet to recover from their precipitous drop from their highs posted last spring.

Zynga is the publisher of such popular games as Draw Something, Poker by Zynga and more.