Job Cuts in Meesho: The country’s unicorn startup, Meesho, has again announced layoffs. The recession prevailing in America and Europe has also affected the Indian market. In such a situation, many giants and startup companies in the country have made several layoffs. Meesho’s name has also been added to the list of retrenchment companies. Announcing the second round of layoffs, the company has reduced its workforce by 15 percent.
So Many Employees Will Be Affected
Soft back-backed company Meesho said on Friday that amid significant changes in the tech industry, the company had made changes to make itself sustainable. After this, Meesho planned to retrench a total of 251 employees. This is 15 per cent of the total employees working in the company.
Retrenchment Of Earlier Employees
Earlier in April 2022, the startup company also decided to lay off 150 employees. The company did this layoff after restructuring its grocery business Farmiso. At that time, the company had shown the way out to a total of 250 employees.
After the second round of layoffs, Vidit Aatrey, co-founder and chief executive officer of Meesho, said in an email sent to employees on May 5 that the company had taken this decision due to significant global changes. Earlier in the layoffs in April, Atre had said that the company had made a mistake in hiring during the Corona lockdown. This necessary decision has been taken to save such business.
Employees Who Are Victims Of Retrenchment Will Get Help
The CEO has also said that apart from the notice period, all the employees who have been retrenched will be given 15 days more salary. Along with this, the family of all the employees will get the health insurance facility till March 31, 2024. Along with this, the employees who were retrenched will also remain the company’s shareholders.
These Companies Also Announced Layoffs
Earlier, Canada’s leading e-commerce platform company Shopify also announced layoffs. The company will lay off 20 per cent of the total employees. Apart from this, American company Cognizant also announced the layoff of 3,000 employees on Thursday.
Significantly, due to the global recession, many big companies like Twitter, Meta, Amazon, Microsoft etc. have done layoffs on a large scale. Along with this, many startup companies like Byju’s, ShareChat etc., have shown the way out to the employees on a large scale.
