Delhi NCR-based gaming startup Zupee is laying off around 200 employees, almost 40% of its workforce, sources told Inc42. The layoffs are a part of a cost-cutting exercise following the ban on real money gaming and were announced today during a town hall by cofounder and CEO Dilsher Singh Malhi. Confirming the development, Zupee told Inc42 in a statement, “As the company sharpens its focus on core growth areas including culturally-rooted online social games and emerging content formats, certain roles have been restructured, impacting approximately 200 employees across a few teams.” The impacted employees, besides their contractual notice period, will be offered additional financial support linked to years of service, it added. Zupee said it will also continue the current health insurance coverage for the affected employees and set up INR 1 Cr medical support fund to provide extra security to the impacted employees. The layoffs come on the heels of Zupee adding short-video content, under the name Zupee Studio, to its offerings following the ban on its real money games. The startup is offering 1-3 minute mini-episodes across genres such as romance, drama, thriller, and comedy. The fresh round of layoffs also comes almost four months after the startup… Read MoreInc42 Media
