Team India’s official kit sponsor, Mobile Premier League or more popularly known as MPL has decided to lay off more than 100 employees.
The startup has decided to cut down costs and that’s why they have taken this decision.
The news was shared with all the employees via a memo by the co-founder of MPL, Sai Srinivas.
MPL became the official kit sponsor of the Indian team in November 2020.
The company pays INR 65 lakhs for every national game as well as the official kit partner for India.
Additionally, MPL also pays INR 3 crores as the merchandise partner.
The reason for the employee layoffs is the advertising slowdown that has affected many startups recently.
Not only MPL but many other startups such as Unacademy, Meesho and Swiggy have decided to cut down their employees.
India’s next assignment is against South Africa which is a home series and will commence on 9th June in Delhi.
It will be important to see whether sponsors will agree to sponsor the series or will give it a hard pass.