Boston-based DraftKings cutting 140 jobs

Photo by: DraftKings
Photo by: DraftKings

(Boston, MA) -- Online betting company DraftKings is cutting 140 jobs, which is more than three-percent of its global workforce.

Just 15 of the positions being eliminated are in Massachusetts, out of more than 13 hundred people employed by DraftKings in the state.

The Boston based-company indicates the job cuts are part of a reorganization and are not related to the economy or a business slowdown.

The news wasn't all bad when it came to DraftKings' stock as it rose by ten-percent Wednesday.