Confirming the development, a spokeswoman from Sharechat said in a statement that the retrenching affected around 5% of its 2,300strong workforce. Jeet11, which offers fantasy cricket and a few other online games, was launched in February 2020 to compete with other larger online fantasy platforms like MPL, Dream11 and others.
"As a standard business practice, we periodically evaluate our strategies. We can confirm that we are ceasing operations of Jeet11 and have reorganised some of our functions, which meant movement of this talent within teams and a few employee exits.
"This process has impacted less than 5% of our employees," the statement added.
This story is from the December 03, 2022 edition of Financial Express Mumbai.
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This story is from the December 03, 2022 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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