Dunzo, one of the leading online delivery platforms backed by Reliance Retail, had layoffs 150 of its employees believing it was running out of cash. The decision has been seen as a major setback for the battered Indian tech sector with economic challenges of late.
A certain number of employees at the company were affected, Dunzo assured them they get their pending salaries, severance pay, and other dues once they succeeded in finding funds. However, the lack of a clear timeline for when this funding might arrive has sent employees into freak-out mode.
The layoffs at Dunzo are part of a widespread reduction in operating expenses by tech firms in India. Despite being a part of a big partnership like Reliance Retail –India’s leading retail business class. The company had been struggling to turn profitable. The fall of Tinyowl and many others question the sustainability of Indian tech startups and the competition dealing with ever-changing dynamics.
- Dunzo has layoffs 150 employees due to a cash crunch.
- The company has assured employees of clear pending payments once funding is secured.
- This layoff is a part of cost-cutting in the Indian tech sector.
- Dunzo’s struggles highlight the challenges faced by Indian startups in achieving profitability.
Also Read: Unemployment Rate in India 2024
