Last Updated:
Gameskraft has decided to lay off around 120 employees across various teams and roles as part of its restructuring.
The layoff number might further increase as the process is still ongoing, according to a Moneycontrol report.
Days after the government banned real-money games, gaming company Gameskraft has decided to lay off around 120 employees across various teams and roles as part of its restructuring. This move comes even as the company is caught in a fraud scandal involving its former CFO Ramesh Prabhu, who is accused of siphoning off about Rs 270.43 crore over nearly five years.
“This has been one of the most difficult decisions in Gameskraft’s journey. Every single Krafter has played a meaningful role in shaping who we are, and we are deeply grateful for their contributions, passion, and belief in our mission,” Gameskraft founder Prithvi Singh said in a statement.
“While this step is driven entirely by the external environment and the need to adapt to a new reality, it in no way reflects on their talent or dedication. Our respect for our people remains unchanged, and we will try our best to support them as they transition into their next chapters,” he added.
According to a Moneycontrol report, the layoff number might further increase as the process is still ongoing.
The company stated that further structural changes may be necessary as the business “continues to evolve in response to external realities”.
Its former CFO Ramesh Prabhu is accused of siphoning off about Rs 270.43 crore over nearly five years. Following a complaint by Gameskraft, an FIR has been registered against Prabhu at Bengaluru’s Marathahalli police station.
Parliament on August 21 passed The Promotion and Regulation of Online Gaming Bill, 2025, with the Rajya Sabha approving it without debate amid din. The bill, piloted by Minister of Electronics and IT Ashwini Vaishnaw, seeks to ban all forms of online money games while promoting eSports and online social gaming.
It also seeks to prohibit advertisements related to online money games and bar banks and financial institutions from facilitating or transferring funds for any of such games.
Online money games are played by depositing money in expectation of winning monetary and other rewards.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 18, 2025, 14:33 IST
Read More
