India, Sept. 10 -- Following the Centre's ban on online real money gaming (RMG), gaming unicorn Games24x7 has now reportedly begun laying off nearly 70% of its workforce.

Sources told news agency PTI that the retrenchment exercise will impact nearly 500 employees at the company.

"There were around 700 to 750 employees at Games24x7. The company is now laying off around 70% of them. Around 500 people may be impacted," a source reportedly said.

This comes a week after Inc42 reported that the company had begun layoffs, which would impact employees across the board and departments. Notably, this is the second round of retrenchments at the company this year.

In May this year, much before the RMG ban, the gaming giant fired close to 180 empl...