Layoffs at Navi

Happened last week. Navi does this half-yearly if not quarterly. Supposed to be performance based but systems and checks are not in place to assure the process is unbiased. Myntra - not an organisation which does layoffs much. Please shed some light.

Navi Technology founded by Sachin Bansal is doing mass layoffs which started on Tuesday (11 July)

I've been hearing some pretty bad things about Navi's work culture - esp. in the analytics teams. Apart from the 12-14 hour days, apparently you're not even allowed to take leaves. If you want to go home for a few days, you're asked to apply for wfh for those days. If you want to wfh, you're asked to apply for a sick leave and then work nevertheless. Can someone from Navi or otherwise confirm this?

The world economy as we know is stabilizing but its just the US economy that is stabilizing there is a real cash crunch happening at most startups and its effect have started from the last week One of the companies in which my friend is working Spyne.ai layed off closed to 20-30 folks across various departments tech, marketing, sales , product, hr and ai their total workforce is around 80 employees Insider news also states they even fired their chief of product, and its becoming tough to sustain, they even gave esops to employees on a valuation they havent achieved yet during appraisal season It was a forced resignation, 2 3 folks were even said leave we wont be giving you any severance. Yesterday even recieved news off layoffs inside TCS(US), myntra and navi Even hearing news from zs and paytm that they might start a fresh round of layoffs

As of now 10 members laid off in consumer banking division in Hyderabad.

All teams are affected. Emails are being sent out by HRs for 1:1. Around 400 people are affected throughout tech department and R&D department.