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Top 10 Indian Companies Having the Worst of Recession – Crypto News Flash



With this Edtech company suffering a surge in losses in the year 2020-21, the company is pushed to take cost cutting measures, including reduction in marketing spends. All this has had a severe impact on the employees too as they have been laid off.



If reports are to be believed, Meesho has reportedly shuttered its grocery business ‘Superstore’ in more than 90% of cities in India. This has resulted in job losses for a lot of its employees. It was just some time back that Meesho’s superstore, Farmiso was launched with an aim to fulfill consumer demand for daily essentials in Tier 2 markets and beyond.



Blinkit is yet another Indian company that has laid off employees, shuttered dark stores, and delayed some vendor payments. All this is a result of intense competition in the quick commerce space. Employees hit by this move are majorly from cities like Mumbai, Hyderabad, and Kolkata.


Lido Learning

Lido Learning, which is known for offering tuition in Maths, Science, and English aligned with the CBSE and ICSE for students from KG to Grade 12 is also one among the many companies to lay off employees. Recently, the startup has also filed for insolvency with the Mumbai bench of the National Company Law Tribunal.



This Edtech company is the news for quite some time. Off late, the company has cut as many as 350 jobs amid a push to reduce costs and turn in a profit, in yet another round of layoffs. What follows is the company taking stringent measures such as reducing its monthly cash burn, controlling its operational spend, limiting marketing budgets and identifying other redundancies.



Yet another company that is in limelight because of the layoffs is Bengaluru-based furniture startup Furlenco. Recently, the startup has laid off around 180 employees as it looks to cut costs. A good number of employees believe that these layoffs are in line with the startup plans to attain profitability ahead of a public offering.



Social commerce startup Trell is on the verge of letting go of around 40-50% of its workforce. The development has come at a time when the company is reportedly going through an investigation by a forensic team from EY India.



This Indian startup, backed by Japan’s SoftBank and Alpha Wave Global, has joined a growing list of startups such as Unacademy, and Meesho that have let go of staff to conserve cash amid a slowdown in funding.



This company raised $100 million led by Temasek-backed impact investing fund ABC World Asia some time back and the news of layoffs following it comes as no big surprise. In its third round of layoffs at the Bengaluru edtech unicorn, around 600 employees got laid off.



Yet another company to join the group of companies to lay off is Rupeek. The

startup’s management informed the employees about its decision to cut workforce recently.

The post Top 10 Indian Companies Having the Worst of Recession appeared first on Analytics Insight.



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