Layoffs Continue at Real Money Gaming Companies

Overall, firings see sharp drop so far this year

- FE BUREAU

GURUGRAM-BASED real money gaming platform Zupee on Thursday said it will let go of 170 employees, or nearly 30% of its workforce. It joins a series of firms that have restructured their operations since the government banned all forms of online real money gaming last month.

The company said it will offer affected employees severance pay of up to six months, extended health insurance coverage and a ₹1-crore medical support fund.

Real money gaming firms, including A23's parent Head Digital Works, MPL, Games24x7 and Zupee, have cumulatively laid off nearly 1,370 employees so far. Earlier this month, Head Digital Works laid off 500 employees, MPL laid off 300, and Games24x7 cut 400 jobs.