{"id":1244441,"date":"2023-04-08T10:11:13","date_gmt":"2023-04-08T04:41:13","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1244441"},"modified":"2023-04-08T12:21:41","modified_gmt":"2023-04-08T06:51:41","slug":"dunzo-gets-rs-600-crore-funding-fires-300-employees-at-the-same-time","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/dunzo-gets-rs-600-crore-funding-fires-300-employees-at-the-same-time\/","title":{"rendered":"Dunzo Gets Rs 600 Crore Funding; Fires 300 Employees At The Same Time"},"content":{"rendered":"\n

Dunzo is set to lay off 30% of its workforce or 300 employees.<\/p>\n\n\n\n

How it went<\/strong><\/p>\n\n\n\n

\"Dunzo<\/figure>\n\n\n\n

It opted to break the news during a company-wide conference call on Wednesday.<\/p>\n\n\n\n

A source told Business Today, “The leadership conducted an organisation-wide call in which everyone was there and the layoff announcement was made. It was followed by a town hall also in the evening, where we could ask questions.”<\/p>\n\n\n\n

Post layoffs announcement, the impacted employees got a face to face session <\/a>with their managers.<\/p>\n\n\n\n

Firing despite securing funding<\/strong><\/p>\n\n\n\n

This comes about despite having secured funding worth $75 million, with Google and Reliance Industries believed to be among the investors.<\/p>\n\n\n\n

It informed employees of the same, stating that it was looking to pivot its business strategy to achieve profitability ahead of the IPO.<\/p>\n\n\n\n

The move is aimed at helping turn a profit before its planned IPO in 2025.<\/p>\n\n\n\n

Increased competition<\/strong><\/p>\n\n\n\n

This development comes as the grocery delivery platform faces increasing competition in India’s highly competitive e-commerce market.<\/p>\n\n\n\n

Blinkit and Zepto have been some of its biggest rivals.<\/p>\n\n\n\n

Although the pandemic has led to a surge in demand for online delivery services, it has also led to challenges such as supply chain disruptions and increased costs.<\/p>\n\n\n\n

Downward spiral<\/strong><\/p>\n\n\n\n

Dunzo was founded in 2015 and has grown rapidly in recent years, offering a range of services from grocery delivery to pet supplies.<\/p>\n\n\n\n

It has also considered expansion into new areas such as bike taxi services and has raised over $200 million to date.<\/p>\n\n\n\n

In January, Dunzo laid off around 60-80 employees, amounting <\/a>to almost 3% of its workforce as the company looked at team structures and network design to build efficiency into its teams.<\/p>\n\n\n\n

Previous cycle of layoffs<\/strong><\/p>\n\n\n\n

This came months after it shut some of its dark stores in a cost cutting measure.<\/p>\n\n\n\n

It had raised $240 million to expand its footprint in India in January 2022.<\/p>\n\n\n\n

The freshly-raised funds were to be used in enabling instant delivery of essentials from a network of micro warehouses while also expanding its ‘B2B’ business vertical to enable logistics for the local merchants.<\/p>\n\n\n\n

Crocodile tears<\/strong><\/p>\n\n\n\n

CEO and cofounder Kabeer Biswas released a statement then, saying that letting people go was always a difficult decision and the company was constantly working on redefining business processes at scale. <\/p>\n\n\n\n

He added <\/a>that the impacted employees were being provided with the best support possible during their transition.<\/p>\n\n\n\n

The quick commerce platform will also shut down 50 per cent of its dark stores, and will now join supermarkets and other merchants.<\/p>\n\n\n\n

Hopping on the bandwagon<\/strong><\/p>\n\n\n\n

Dunzo is just one of many Indian startups that have had to cut costs by laying off employees due to macroeconomic headwinds and a funding winter.<\/p>\n\n\n\n

In this case, as funding dried up and macro-economics changed, Dunzo shifted its focus from quick commerce to group deliveries by August 2022 and added business-to-business deliveries, including for its investor Reliance Retail. <\/p>\n\n\n\n

The job market in India has been turbulent for a while now, and the COVID-19 pandemic has only worsened the situation.<\/p>\n\n\n\n

Many startups in the country have struggled to raise funds, while others have had to pivot their business models to stay afloat.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dunzo is set to lay off 30% of its workforce or 300 employees. How it went It opted to break the news during a company-wide conference call on Wednesday. A source told Business Today, “The leadership conducted an organisation-wide call in which everyone was there and the layoff announcement was made. It was followed by […]<\/p>\n","protected":false},"author":24,"featured_media":1244446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[576],"class_list":["post-1244441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-dunzo"],"acf":[],"yoast_head":"\nDunzo Gets Rs 600 Crore Funding; Fires 300 Employees At The Same Time - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/dunzo-gets-rs-600-crore-funding-fires-300-employees-at-the-same-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dunzo Gets Rs 600 Crore Funding; Fires 300 Employees At The Same Time - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Dunzo is set to lay off 30% of its workforce or 300 employees. 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