DraftKings lays off roughly 140 employees in corporate restructure

DraftKings lays off roughly 140 employees in corporate restructure

Article brief provided by Sportico
  • Eben Novy-Williams, Sportico
February 1, 2023 9:19 PM
  • Eben Novy-Williams, Sportico
  • Asia
  • Europe
  • United States
  • Massachusetts

DraftKings is eliminating about 140 jobs, part of what the sports betting company is calling a reorganization.

A majority of the eliminated positions are based in Europe, Asia and the Middle East, and primarily span both engineering and HR roles related to hiring, according to someone with direct knowledge of the moves. The 140 positions amount to a low single-digit percentage of the company’s workforce.

DraftKings stock jumped nearly 10% on the day to close at $16.48.

“With an increased focus on operational efficiencies, we are constantly evaluating our teams to ensure that they are best positioned to meet our company goals in 2023 and beyond,” the company said in a statement.