50 of the company’s 200 full-time employees were relieved with immediate effect
Pocket Aces, as per The Economic Times, has laid off 50 of its 200 full-time employees to save costs and become profitable in the coming year.
The affected employees are from the company’s content, production and post-production teams.
CEO Aditi Shrivastava told ET that the company will continue to engage some of the affected employees on a freelance basis for web series and film content creation while helping others with outplacements. She also said that the company will help the impacted employees with financial support and health insurance coverage.
Pocket Aces joins a growing list of companies letting go of its staff this year. The list includes many Indian startups, and big companies such as Alphabet, Meta, and Amazon.