CityMall conducted layoffs today.
It was a pretty tense situation at the office. Nearly all engineering managers were laid off, most of the SDE-2s who were not the core engineering team and a lot of SDE-1s who had just joined this year. Even the interns were let go today. Pretty scary scenario today. Just putting out an update. Apparently it was done to please the investors for the next series of funding. Can't say for sure though.
I am. It's fine though, it internally is a dumpster fire. Got other interviews lined up this week so hopefully, it'll be easy to move on.
Hope you get something better soon :)
Always liked the idea behind CityMall
Sad that this is happening
Layoff is constant at CityMall. I was impacted in Aug.
I am hearing that 30 more folks will be laid off next week and post Diwali Category team will be impacted.
The L1 of the company is of Yes man, if you don't say yes, your name will be in the list.
One employee was on paternity leave and he was laid off without any communication and I have many more stories like this.
Head of marketing, Head HR, entire TA team are laid off. The worst part is that they have asked to resign hence no severance for the laid off folks.
August? Damn. I had joined in July mid so I might have known or talked to you.
Yeah you heard right. I saw all of these guys being laid off in front of my eyes because I was working from office yesterday. It was effing brutal.
30 folks next week? Are they going to be from the tech team?
Not sure mate but if you remember the Head of Ops was asked to leave and all the members he hired. Head of Product was laid off in July with few other members
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MightyLazyGeekStar
Stealth
a year ago
Didn’t they do the same thing last year and rescind campus offers
Yep they had. I was not in the company last year but my colleagues shared the stories from back then.
Typical PE run company .fire the employees before next series of funding..show savings ..add that to EBITDA....show higher PF EBITDA...make every investor happy ...founders will be happy.....continue cash burn...and repeat the same during next series of funding..
Yeah true. It's already out in the new on inc42 now. Move to please the investors. Nothing new for them.
Bumpy_Stock
Stealth
a year ago
That's an interesting take. Where else have you seen this?
It is the worst company in the startup space. The founders are so casusal about layoffs that they dont even think a second about it. They are blocked by multiple top colleges just because they revoked the offers multiple times.
I have worked with them for 5 months and it was a total nightmare.
Yeah I was just in my fourth month with them. The founders were laughing while all of us were tense and considering our future options. A few of my colleagues from top tier colleges were hired and fired so I am hoping they get blocked from the instituitions.
Hermit
Stealth
a year ago
Such startups should be blacklisted by both potential investors and potential employees. But that would only happen in a utopian world.
Rather than firing employees, they should be firing the top management especially the CFO who doesn’t understand their runway.
Majority of these startups are just running after one single North Star metric of valuation and can differentiate their head from their ass.
Yeah the co-founders are only running after the valuation while a boat load of money was being spent by the tech team because of the lack of optimization from both the dev and the ops side. Like I said in some other comment, it was an internal dumpster fire.
I don't know for sure buddy. I'm still a fresher in a relatively niche field for a fresher so getting interviews is still very difficult for me. Have some fintech startup interviewing me this week and currently talking to HRs of a few others. Let's see where this goes.
Messi
Stealth
a year ago
all the best for ur job search. Was it PMF issue, inexperienced leadership or over hiring? or a mix of all? What went wrong?
Thanks!
I'd say it was definitely a mix of the first two. The product could be good but their business model is a bit broken and the product was operating under loss. The leadership is also not the best at taking some good decisions and this one clearly was a direction from the investors to get some results on their investements.
breez
Stealth
a year ago
I think I know you, keep purring your contribution speaks for itself. Don’t be disheartened. Better opportunities with a larger team awaits you.
Good luck
I honestly do not know if people really knew me lol, I was the intern who was supposed to be converted to full time this month, but F. Thanks for the kind words though!
breez
Stealth
a year ago
Did you not get the purr? What else can I say without giving away your identity lol 😹
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Techyuce
Stealth
a year ago
Stay strong guys
roller
Stealth
a year ago
I have heard that the Head of Marketing who got laid off on Friday has rejoined the firm today in some other role at a request of the founder. What a f**k going on in a company.
Stealthmode
Stealth
a year ago
What they're trying to do with this ,will they rehire and again fire all the employees.
By the way is this news true?
Wait fr? I was on a sick leave on Friday. I had no idea all this was happening on Friday.
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Meetster
Stealth
a year ago
Stay strong people
SabChangaSi
Stealth
a year ago
Didn't city Mall initially have more founders?
