Spartan Poker faces layoffs amidst 28% GST impact

August 19, 2023

, By Editorial Team

Spartan Poker

E-Sports Lay off

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The homegrown online gaming sector is grappling with the repercussions of the 28% Goods and Services Tax (GST), as yet another online gaming platform, Spartan Poker, reportedly becomes the latest startup to resort to layoffs.

Layoffs Hit Spartan Poker

Sources have informed Moneycontrol that Spartan Poker, in response to the new tax regime, has laid off 125 employees, accounting for 40% of its total workforce. The specific departments affected by the company’s decision to downsize are currently unclear.

Spartan Poker- Trend of Layoffs Continues in Online Gaming

Spartan Poker becomes the third significant online gaming startup to implement employee layoffs, following similar actions by Hike and MPL. The gaming industry’s workforce dynamics are shifting due to the challenges posed by the GST.

Online Gaming Ecosystem Reacts to GST Imposition

The gaming ecosystem voiced its concerns when the GST Council introduced a 28% GST on entry-level payments for online games. This move prompted Finance Minister Nirmala Sitharaman to hint at potential amendments to the GST Act during the Monsoon Session of Parliament.

Uncertain Landscape for Online Gaming Startups

With more startups considering layoffs due to the GST, the online gaming ecosystem faces uncertainty. The industry is watching closely to see how these companies navigate the challenges brought by the 28% tax, as the government’s plans continue to unfold. The future of the online gaming sector hangs in the balance as it confronts this new curveball in the form of a 28% GST.

Also Read The Latest News:
BYJU’S layoff 100 employees after performance review
Exponent Energy revolutionizes EV charging with 15-minute rapid charging technology

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Spartan Poker faces layoffs amidst 28% GST impact

August 19, 2023

, Published By Editorial Team

Spartan Poker

E-Sports Lay off

The homegrown online gaming sector is grappling with the repercussions of the 28% Goods and Services Tax (GST), as yet another online gaming platform, Spartan Poker, reportedly becomes the latest startup to resort to layoffs.

Layoffs Hit Spartan Poker

Sources have informed Moneycontrol that Spartan Poker, in response to the new tax regime, has laid off 125 employees, accounting for 40% of its total workforce. The specific departments affected by the company’s decision to downsize are currently unclear.

Spartan Poker- Trend of Layoffs Continues in Online Gaming

Spartan Poker becomes the third significant online gaming startup to implement employee layoffs, following similar actions by Hike and MPL. The gaming industry’s workforce dynamics are shifting due to the challenges posed by the GST.

Online Gaming Ecosystem Reacts to GST Imposition

The gaming ecosystem voiced its concerns when the GST Council introduced a 28% GST on entry-level payments for online games. This move prompted Finance Minister Nirmala Sitharaman to hint at potential amendments to the GST Act during the Monsoon Session of Parliament.

Uncertain Landscape for Online Gaming Startups

With more startups considering layoffs due to the GST, the online gaming ecosystem faces uncertainty. The industry is watching closely to see how these companies navigate the challenges brought by the 28% tax, as the government’s plans continue to unfold. The future of the online gaming sector hangs in the balance as it confronts this new curveball in the form of a 28% GST.

Also Read The Latest News:
BYJU’S layoff 100 employees after performance review
Exponent Energy revolutionizes EV charging with 15-minute rapid charging technology

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

BYJU’S layoff 100 employees after performance review

Next News

Flipkart co-founder Binny Bansal ventures into cross-border ecommerce with Startup

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.

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