Here’s why the maker of Angry Birds just cut a third of its workforce

When’s the last time you saw a kid wearing an Angry Birds shirt? That just may be the problem.

Rovio, the Finnish game company responsible for the Angry Birds franchise, announced today it was cutting up to 260 jobs, or about 35% of its workforce of about 700 people.

The company’s newest game, Angry Birds 2, is apparently doing OK, with about 50 million downloads in its first month, but as this chart compiled by Statista shows, the company overall seems to have peaked. Profits (before certain items) topped out at $US88 million in 2012, and revenue topped out at $US200 million a year later.

The company says it’s refocusing on three areas — games, media, and consumer products — and the layoffs will not affect production of the planned Angry Birds movie.