BeepKart Lays Off 130 Employees, Shuts Half of Stores Amid Funding Crunch
- BeepKart, a used two-wheeler marketplace, has **laid off around 130 employees** in three rounds over the past five months.
- The Bengaluru-based startup also **closed six of its 11 stores** in Bengaluru and Chennai as part of a cost-cutting exercise.
- The layoffs and closures come amid a **funding crunch** and unsuccessful expansion efforts.
- BeepKart's attempts to increase margins by **raising prices** led to a loss of customers to competitors.
- The startup reported a **net loss of INR 28 Cr** on an operating revenue of INR 22 Cr in FY23.
Source: [Inc42](https://inc42.com/buzz/exclusive-beepkart-fires-130-employees-in-5-months-to-cut-costs-halves-store-count/)
- The Bengaluru-based startup also **closed six of its 11 stores** in Bengaluru and Chennai as part of a cost-cutting exercise.
- The layoffs and closures come amid a **funding crunch** and unsuccessful expansion efforts.
- BeepKart's attempts to increase margins by **raising prices** led to a loss of customers to competitors.
- The startup reported a **net loss of INR 28 Cr** on an operating revenue of INR 22 Cr in FY23.
Source: [Inc42](https://inc42.com/buzz/exclusive-beepkart-fires-130-employees-in-5-months-to-cut-costs-halves-store-count/)
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Scaler lays off 150 employees to reduce redundancy in roles: Report
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https://www.hindustantimes.com/business/scaler-lays-off-150-employees-to-reduce-redundancy-in-roles-report-101712740957366.html
