Layoffs at Games 24x7😕
One of the affected folks by layoffs from Games 24x7. Was one of the worst times in office when close to 150 folks have been laid off. Teams that have given revenue, folks who have joined the company from inception have all been axed.
The worst part was the way it was handled. Guards were everywhere in the office, and were escorting people out as soon as the call with the manager and the HR ended. Was chatting with team mates after the call, and someone came and told me your 15 mins are over. Felt like the times when you have to go and meet someone in prison and you get only 10-15 mins time. A lot of hardworking folks got laid off, and complete teams have been razed down.
Some folks got 4 months of severance and some got 2 months. The worst part was laying off folks who have been with the company over 10-12 years. Brutal times in the RMG space
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so the real story was in games24x7 :
- they have delayed the bonus and yearly increment. because it was IPL going on and they need support.
- mid IPL : the systems were stable and time to layoff
- they intentionally delayed the bonus and yearly increment cycle so that the same can be given as a severance. (btw thr is 2 months severance )
- company is booking losses (good revenue but increased losses at the same time) : In townhall they have confirmed the same.
- Leadership team is not that good (in terms of innovation, they literally copy dream11 features and ask dev to complete sooner). I feel this company will follow massive losses in near future and will be taken over.