Online gaming app MPL to lay off 350 employees after government initiates tax regulation
Bengaluru-based online gaming app, Mobile Premier League (MPL) is laying off 350 employees. This step is being taken by the company in response to face the challenges posed by the recent tax regulation initiative taken by the government.
Last week, the company announced its plans to lay off employees and it sent a formal communication on Tuesday, sources familiar with the matter said.
"As a digital company, our variable costs predominantly involve people, servers and office infrastructure. Therefore, we must take steps to bring these expenses down to survive and ensure that the business remains viable," Sai Srinivas, founder and Chief Executive of MPL, wrote to employees in an email.
This is the second round of layoffs at the Bengaluru -based startup in about a year. It had let go more than 100 people and exited the Indonesian market in May 2022.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.