Dunzo Announces Fresh Round Of Layoffs The employees were officially informed of the latest layoffs by co-founder and CTO Mukund Jha in a short meeting on Friday
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Quick commerce company Dunzo has reportedly announced a fresh round of layoffs which is said to impact around 150-200 employees that is around 30-40%. It has already sacked close to 400 employees so far this year in two rounds.
The employees were officially informed of the latest layoffs by co-founder and chief technology officer Mukund Jha in a short meeting on Friday.
The employees impacted by the latest round of layoffs have to wait even longer for their June salaries. Because it is reported that the impacted employees have been given two options; the first one to resign and leave immediately and get full and final settlement in January or February, or resign today and give notice period and get due September salary in October and full and final settlement in January or February.
Moreover, Dunzo had earlier informed its employees that it would defer unpaid salaries for the months of June and July to September, when it would pay them with August salary.
Additionally, Dunzo seems to have other plans to cut the operational costs. To validate the same, there are reports that the company may move into a smaller office to reduce the rent paid and also because of the cut short in its team members.
On the contrary, as per reports, the company is also in advanced stages to close a $25-30 million funding round, in which its key investors Reliance Retail, Google, and Lightrock are expected to participate.
Earlier, ET had reported that the firm had held talks with its largest investor Reliance Retail to raise around $20 million.
