Layoffs begin in India following online gambling ban
The latest development confirms fears that India could see hundreds of thousands of people lose their jobs in the technology sector.
Key points:
– Companies have begun making staff redundant following the recent gambling bill
– Around 200,000 people are estimated to lose their jobs
– One of the first companies to report doing so is cutting 60% of its local workforce
Mobile Premier League (MPL) is set to let go 300 of its staff in response to India’s real-money online gaming ban.
As reported by local media, MPL is one of the first companies to cut staff in response to the decision, with up to 60% of its local workforce expected to lose their jobs.
India is expected to experience mass redundancies in the technology sector within the coming months, following the Promotion and Regulation of Online Gaming Bill that banned all forms of online gambling.
The initial estimates placed around 200,000 people at risk of losing their jobs.
MPL is planning on reducing its workforce by 300, with legal, finance, marketing, operations and engineering being the main teams being hit.
Founded in 2018, the company offered fantasy sports, puzzles, casual and board games.
MPL also held partnerships with the NBA and the Pro Kabaddi League.
The MPL website and app are currently not accepting deposits “in compliance with the law”, but the company says it still plans to offer free-to-play games.
Good to know: MPL and Dream11 were considered rivals in the Indian fantasy sports and online casino game scene
Dream11 faced a similar situation last week, as another Indian-facing fantasy sports provider, when it had to drop its sponsorship of the Indian National Cricket teams ahead of the Asia Cup.
It is believed that paid games accounted for 50% of MPL’s revenue and 90% of Dream11’s.
However, not all operators are accepting the ruling.
Head Digital Works, the company behind A23 Rummy Online and A23 Poker Online, is the first gaming operator to legally challenge the gambling ban in India.
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