DraftKings to shed 4% of its workforce

Finance News

DraftKings said on Wednesday it would cut 140 jobs, or 3.5 percent of its global workforce, as part of a reorganizationor about 3.5% of its workforce, as part of a reorganizing effort.

Roles are being eliminated in the U.S and internationally, but primarily in its Europe, Middle East and Africa segment.

The sports betting giant said it is increasingly focused on making its operations more efficient.

“We are constantly evaluating our teams to ensure they are best positioned to meet our company goals in 2023 and beyond,” a company spokesperson said in a statement.

The company said that it is shifting investments from business-to-business into mobile developments. Affected segments include engineering and talent acquisition.