Zynga has cut its projected revenue from $1.15 to $1.23 billion down to $1.09 – $1.1 billion. CEO Mark Pincus sent a conciliatory letter to employees, but one line about cutting costs has led AllThingsD to speculate that the pink slips are about to start being handed out. With the company’s stock selling in the (very) low single digits, the move wouldn’t be all that surprising.

[Source: AllThingsD]