After TinyOwl, Zomato, Grofers next startup to lay off 10% employees
The company cited adverse market conditions as a reason and also revoked job offers to fresh graduates.
Startups have been facing the crunch in terms of investment in recent times and Grofers is the next in line for mass lay-offs. The company recently that it will lay off 10% of its workforce, according to a Mint report.
The company cited adverse market conditions as a reason and also revoked job offers to fresh graduates.
These employees laid off mainly belong to the customer support and content team, Rishi Arora, head of human resources of Grofers in the report. The company has a total about 1,500-2,000 employees.
Some of the other startups that have cut their staff include Zomato, TinyOwl, LocalOye, helpChat, Runnr and Commonfloor. This is mainly due to slower-than-expected growth and investment drying up.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.