Mobile Premier League (MPL), an Indian esports and mobile gaming platform that allows gamers to compete in fantasy, arcade, casual, and sports games for cash prizes, will cut 10% of its workforce in order to cap costs and improve financial performance. 

30% of the layoffs originated from its Indonesian business, which was launched in 2019, as it prepares to exit the market and discontinue its streaming app. The company plans to break even on an EBITDA basis by December 2022. It revealed that global annual net revenue is on track to surpass USD 100 million. 

Analyst QuickTake: Although the exit seems like a backward step, MPL is expanding in other markets. The news follows its unicorn round—a Series E worth USD 150 million in September 2021, which came roughly three years after its launch. MPL funneled the fresh funds into expanding operations in the US market.