The elevator entrance to the new DraftKings office in Boston, designed to resemble a stadium entrance tunnel.
David L. Ryan | Boston Globe via Getty Images
draft kings is eliminating 140 jobs, or about 3.5% of its workforce, as part of the restructuring.
The stock had gained nearly 3 per cent on Thursday.
sports betting giant said it is increasingly focusing on making its operations more efficient.
“We are continually evaluating our teams to ensure they are best positioned to deliver on our company’s goals in 2023 and beyond,” a company spokesperson said in a statement.
DraftKings said it is shifting investment from business to business to mobile development. Affected areas include engineering and talent acquisition.
DraftKings also said that roles were being eliminated in the US and internationally, but primarily in its Europe, Middle East and Africa segment.
Company plans to report 2022 Q4 Results On 16 February.
Earlier this week, DraftKings and molson coors announced a partnership with his super bowl ad,