Jobs are at risk today, what with major companies laying off workers left, right, and center.
After Amazon, and Meta, Grocery delivery startup, Dunzo has reportedly laid off 3% of its workforce. The company, however, has assured that it will be assisting its employees during the transition.
Dunzo Fires 3% of Employees; Offers Support During Transition
According to Dunzo, it is providing the best support it can to aid the staff members during this transition. Dunzo, a grocery delivery startup backed by Reliance Retail, let go of 3% of its staff last week. The precise number of laid-off workers has not yet been disclosed.
As per a statement by Kabeer Biswas, the CEO and Co-Founder of Dunzo, “Last week, we had to part ways with 3% of our team strength. Whatever the numbers, these are people who chose to build their careers with Dunzo, and it is sad to have talented colleagues leave us.”
The business claimed that it is providing the best support it can to aid the employees in this transition. “To make our teams more efficient, we are constantly evaluating the composition of our teams and the way our networks are set up. We are constantly learning how to redefine business processes at scale as we grow from 10 to 100 “Kabeer said.
The business claimed that it is providing the best support it can to aid the employees in this transition. He said that in order to increase team efficiency, the company is constantly reviewing its team structures and network design. According to Kabeer, the company is continually learning how to redefine business processes at scale as it grows from 10 to 100 employees.
According to reports, Dunzo was seeking to raise between $70 million and $100 million (up to Rs 825 crore) through convertible notes in order to scale its quick commerce vertical, Dunzo Daily. It had previously issued debentures to Blacksoil India to raise $6.2 million. He claimed that any choice that has an impact on people is challenging and is always our last resort.
At a $775 million valuation, Reliance Retail invested a total of $240 million in January of last year. Due to high operational costs, the hyperlocal delivery startup reported a net loss of Rs 464 crore in FY22, a 2X increase from Rs 229.1 crore in FY21.
According to the company, its delivery-related expenses rose 4.6X to Rs 134 crore in FY22 from Rs 29.4 crore in FY21, accounting for 25.2% of total spending.
