Online social gaming and entertainment company, Zupee on Thursday said it will lay off 170 employees, representing 30% of its total employee strength, following the Centre's ban on online real-money gaming.
This is part of a strategic business realignment plan to adapt to the new Promotion and Regulation of Online Gaming Act, 2025, the company said in a statement, as it will now focus on online social games and short video content.
"This has been a tough call for us, but was necessary to adapt to the new regulatory framework...We are providing comprehensive support to help our colleagues step seamlessly and with confidence into their next roles," Dilsher Singh Malhi, founder and CEO of Zupee, said.
Zupee will be offering additional financial support linked to years of service and a Rs 1 crore medical support fund to provide extra security, while giving priority for re-hiring as new roles become available.
"While these changes are never easy, we are confident of the path ahead," Malhi added. With over 15 crore registered users, Zupee said it will continue to expand its offering of culturally-rooted online social games and other entertainment products.
While Dream11 has stated that it won't be firing employees, other players like Zupee and Games24x7 have had to resort to layoffs despite pivoting to other business models to sustain.
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