‘As we scale from 10 to 100… we part ways with 3% of our team’: Dunzo CEO announces layoff

“Whatever the numbers, these are people who chose to build their careers with Dunzo, and it is sad to have talented colleagues leave us, said Kabeer Biswas, co-founder and chief executive officer (CEO), Dunzo.

Published on: Jan 16, 2023, 22:54:33 IST

By HT News Desk

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Dunzo, a delivery platform backed by Google, has laid off three per cent of its staff citing restructuring. “As we scale from 10 to 100, we are learning how to redefine business processes at scale… Last week, we had to part ways with 3% of our team strength," said Kabeer Biswas, co-founder and chief executive officer (CEO), Dunzo, reports Live Mint.

The company did not specify how many people were let go, but based on data from LinkedIn, Dunzo has 3,000 employees, which indicates that the startup has let go of about 90 workers.

“Whatever the numbers, these are people who chose to build their careers with Dunzo, and it is sad to have talented colleagues leave us, said Biswas, who also added that the company is providing assistance to support them through this change.

With a post-money "conservative" valuation of $800 million, Dunzo last raised $240 million in January 2022 in a fundraising round headed by Reliance Retail Ventures Ltd. that also included participation from Lightbox and Lightrock.

The company's loss in FY22 increased from 229 crore to 464 crore, more than double from the prior fiscal, while the operating income increased from 25.1 crore in FY21 to 54.3 crore in FY22.

In other news, ShareChat, another Google-backed Indian platform for sharing short videos, announced on Monday that it has laid off nearly 20% of its workforce in order to meet investor pressure to reduce expenses.

"There is a growing market consensus that the current global economic downturn would be a much more sustained one, and we thus have to, unfortunately, seek more cost savings by reducing our team size," ShareChat Chief Executive Officer Ankush Sachdeva said in an internal memo

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HT News Desk
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