The company added that members of projects which had now been successfully developed and deployed, such as ‘Partner SaaS’ were being either let go or were being redeployed in core product & tech areas such as AI-driven pricing, ordering, and payments.
As the integration of various functions of its European Vacation Homes business progressed, it was downsizing in some parts of the business to increase efficiency and harness synergies, the statement said.
The company said it had also reassessed its corporate headquarters base afresh and was merging congruent roles and flattening team structures where needed.
Ritesh Agarwal, founder and group CEO, said: We will be doing all that we can to ensure that most of the people we are having to let go, are gainfully employed. Every member and I myself will proactively endorse the strength of each of these employees. It is unfortunate that we are having to part ways with a lot of these talented individuals who have made valuable contributions to the company. As grows and a need for some of these roles emerges in the future, we commit to reaching out to them first and offering them the opportunity.
The company will be helping as many employees as it can in the outplacement and continuing with ranging between 3 months
The company said it was making wide-ranging changes
These layoffs come at a time when many other large start-ups are letting go of employees.
According to close to the company, these layoffs would likely take place over two weeks.
Areas such as AI-driven pricing, ordering, and payments.
The company will be helping as many employees as it can in the outplacement and continuing with ranging between 3 months
layoffs would likely take place over two weeks.‘Partner SaaS’ were being either let go or were being redeployed in core product & tech areas such as AI-driven pricing, ordering, and payments.
The edtech sector in particular has seen widespread layoffs. Last month, SoftBank-backed edtech unicorn 350 employees. The company’s rival, Byju’s, had also initiated layoffs of 2,500 of its 50,000 workforce.
Ritesh Agarwal, founder and group CEO, said: We will be doing all that we can to ensure that most of the people we are having to let go, are gainfully employed. Every member and I myself will proactively endorse the strength of each of these employees.
The company said it was making wide-ranging changes
Before that, B2B e-commerce unicorn also laid off 10 per cent of its workforce, sacking 350 employees.
It is unfortunate that we are having to part ways with a lot of these talented individuals who have made valuable contributions to the company. Engineering teams were being merged for a smoother functioning, the firm said in a statement, adding that the downsizing in tech was also happening in teams that were developing pilots and proofs of concept, such as in-app gaming, social content curation, and patron-facilitated content.
These layoffs would likely take place over two weeks.
‘Partner SaaS’ were being either let go or were being redeployed in core product & tech areas such as AI-driven pricing, ordering, and payments.
Further, food aggregator has also reportedly initiated layoffs of 3 per cent of its work force recently.
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