.Agent ImageReliance Retail-backed Dunzo has actually laid off 75% of its workforce, records Financial Express. Mentioning unidentified sources knowledgeable about the matter, the document pointed out that the online shipment application right now has 50 staff members in its core supply and market place groups. The task cuts, according to the document, is part of a more comprehensive effort to curb expenses and generate cash flow to resolve positioning liabilities, featuring outstanding compensations to existing and former staff members and exceptional merchant payments.Layoffs.fyi - the on the internet system present that the job cuts were actually brought in on August 31, 2024. Dunzo sends email to workers As per the document, Dunzo has actually sent out an e-mail to its workers notifying all of them regarding the recent downsizing. In the letter, Dunzo promises to pay pending incomes, severance, leave behind encashment, and other because of impacted personnel as quickly as it safeguards the necessary funds.Dunzo, which began as a concierge service, has actually undergone multiple switches and also problems. The provider, the moment covered up at $775 thousand, has been actually having a hard time to shut a critical funding sphere. In May this year, Dunzo was reportedly close to safeguarding $22-25 thousand with a mix of equity as well as financial debt from each new and existing investors.In mid-July this year, the firm educated its own staff members that it was in the final stages of shutting a bargain, expecting to work out charges within 10-15 days. Nevertheless, the transaction neglected to emerge along with subsequent emails exposing chronic problems and also obstacles. The provider is actually right now looking for to diversify its own income resources past its major merchant-focused operations.
Released On Sep 2, 2024 at 01:35 PM IST.
Join the area of 2M+ business professionals.Sign up for our bulletin to receive most up-to-date ideas & study.
Download And Install ETRetail App.Acquire Realtime updates.Spare your favorite posts.
Check to install Application.