- WayCool has initiated another round of layoffs within five months, cutting over 200 jobs to streamline its business operations.
- This marks the third layoff exercise within a year, affecting employees across Chennai, Bengaluru, Hyderabad, and its subsidiaries.
- The company has raised around $300 Mn in total funding, backed by investors like Lightrock, Lightbox, Lightsmith, 57 Stars, and FMO.
- Sources indicate the layoffs are due to financial struggles, including delayed salaries and client payments.
- WayCool aims to achieve profitability by simplifying and automating roles, with plans to complete its bridge round funding by August.
Source: Inc42
