As startup layoffs continue, Mobile Premier League and FrontRow fire 245 people
- ByStartupStory | May 31, 2022
MPL, Mobile Premier League and edtech startup Frontrow have laid off 245 employees on Monday. As several stakeholders are anticipating a funding winter, startups like Vedantu, Meesho, Unacademy and others are limiting the number of employees in their firm calling it ‘cost-cutting’.
MPl was founded in 2018 by Sai Srinivas Kiran G and Shubham Malhotra and specializes in the Gaming and Esports sector. It is headquartered in Bengaluru.Frontrow was Founded by Shubhadit Sharma, Mikhil Raj and Ishaan Preet Singh, around nine months ago and is an digital educational sector.
Frontrow laid off one third of its workforce, that is, it laid off 145 full time employees. They claim to have enough fund to survive for 24 months and aim to improve their core business offering. The edtech sector is considered to be impacted the most due to this funding winter and so along with other edtech apps like Vedantu, Unacademy, Frontrow too is seeking solutions by laying off its employees.
Gaming unicorn, Mobile Premier league has also laid off 100 employees which is 10% of its workforce calling it a result of slowing down of funding. Along with this, the startup has also decided to step down from the Indonesian Market. The company has assured the the laid off employees their full compensation and the workers with ESOPs( employee stock option) will have an opportunity to hold on to their options for ten years.
MPL co founders said that”The last few months have been insane. The philosophy of growth at all costs is now reversed. The market is now rewarding profitable growth over growth at all costs… It’s imperative that we as a company respond to this change and respond fast. We have always said that the market is like a flowing river – you cannot fight it, you have to row downstream.
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