Udaan begins deeper layoffs as costs bite amid slowdown

Udaan begins deeper layoffs as costs bite amid slowdown

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Soumya Gupta

10 reads
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Soumya Gupta

10 reads

The B2B ecommerce unicorn may sack 800 employees, far higher than the figure in media reports, as it tries to improve its financial condition in the long run-up to an IPO. There are also business challenges, with inflation and market-share battle leaving it stretched thin

June 28, 2022

8 MINS READ

Just last year, Indian startups loaded with cash were tripping over each other to recruit people in numbers. This period of excess is unravelling as swiftly as it began. Since February, tech companies have shed 10,000-plus employees to cope with the funding squeeze. The layoffs are far from over. 

Udaan, last valued at over $3 billion, is the latest unicorn to add to this sombre statistic after Unacademy, Ola and Meesho, among others. The online business-to-business marketplace is in the process of sacking about 800 staffers across the board, including some top executives, three people aware of the developments told The CapTable

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