Porter announces layoffs ahead of planned public listing, around 300-350 workers affected

On-demand logistics platform Porter has announced job cuts as part of its efforts to reduce costs and strengthen its operations. While the company did not disclose the exact number of employees affected, reports suggest that around 300 to 350 workers have been laid off across various departments.

‘A one-time restructuring for financial stability’

In an official statement, Porter said it is going through a transition aimed at building a stronger, more agile, and financially stable organisation. "We're in the midst of a transition that required a one-time restructuring, aimed at building a stronger, more agile, and financially resilient organisation for the road ahead," Porter said.

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"As part of this journey, we've had to make some difficult decisions that affect our people, choices that were not easy and were made after careful consideration," it added.

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Preparing for IPO and fresh funding round

The layoffs come as Porter gears up for a potential public listing, with reports indicating that the company is in the final stages of securing $100–110 million in new funding from both existing and new investors, IANS reported.

If completed, this round would raise Porter’s total investment to about $300–310 million as part of an extended funding cycle. Earlier in May 2025, Porter had raised $200 million in a round led by Kedaara Capital and Wellington Management, valuing the company at approximately $1.2 billion.

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Profitable growth amid market expansion

Founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Choudhary, Porter provides a wide range of logistics services including on-demand trucking, courier delivery, packing and moving, and enterprise logistics solutions.

In FY25, the company reported a 57 per cent jump in operating revenue to Rs 4,306 crore and turned profitable, recording a net profit of Rs 55 crore compared to a loss of Rs 96 crore in the previous financial year.

Porter remarked that the reorganisation corresponds to the company's strategy aimed at long-term, operational efficiency, and sustainable growth in India's logistics sector, which is very competitive. The firm also mentioned that such actions would enable the company to remain profitable and flexible as it gets ready for its next growth stage.