Joining the extensive list of Indian startups that have been trimming their headcount to cut costs, Google-backed transfer platform Dunzo has laid off 3% of its workforce naming restructuring.
“As we gauge from 10 to 100, we are learning how to redefine business processes at scale. Any decision that affects people is tough and always our last option. Last week, we had to part customs with 3% of our team strength,” said Kabeer Biswas, co-founder and chief decision-making officer (CEO), Dunzo.
According to info available on LinkedIn, Dunzo has an employee base of 3,000, which means that the startup has revealed the door to around 90 employees. The corporation did not disclose the number of staff laid off.
“Whatever the data, these people chose to build their aptitudes with Dunzo, and it is sad to have talented associates’ permission from us. We are extending the best support possible to help them through this transition,” Biswas said.
Google-backed Dunzo fires 3% of Stakes?
Dunzo had its last high of $240 million in January 2022 in a funding round led by Reliance Retail Ventures Ltd., which also proverb other investors participate, including Lightbox, and Light rock, at a post-money “conventional” valuation of $800 million. It was looking at to raise another $250 million to $300 million to help with its development plans and fund its quick commerce business.
In FY22, the company’s harm more than doubled to ₹464 crores from ₹229 crores in the previous fiscal. Operating revenue has climbed to ₹54.3 crores from ₹25.1 crores in FY21.
Dunzo initially intended for a public listing in 2023 but now allows for some more time for its quick commerce business to settle before going public. The quick commerce category is being paid built over the next two or three years, Biswas had said in an interview later year.
Over the past, some months, as many as 17,000 people have lost their jobs as Indian startups trim their labor force in a push to become profitable.