Layoffs at Sharechat.
Layoffs are happening at Sharechat starting today. Each division is being asked to join a call and they are being announced. First call with product org - around 50 folks were impacted
Vespa
Stealth
9 months ago
They moved to a new massive swanky Office 3 months ago. Team parities were happening even last week. And they do this in last week of the year spoiling the new year plans of hundreds of folks!
Halal krne ke pehle aksar bakre ko khush rakha jata hai
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Vespa
Stealth
9 months ago
50 only in tech and product. Apparently the plan is to let go of 15% to 20% workforce!
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Sharechat employees send your resume to me.
Reach out in comments. I will figure out a way to reach out.
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https://techcrunch.com/2023/12/19/sharechat-faces-large-valuation-cut-in-new-funding/
Huge down round now valued at 1.5bn from 4.5bn earlier
@HighMuseum yeah I just read this as well
That's quite a reduction in valuation man
And wtf is up with startups - why are LITERALLY all of them raising a round and firing at the same time. It's almost rude.
aanhserk
Stealth
9 months ago
How are the even valued at 1.5B? Do companies have a separate ad marketing budget for sharechat? Crazy numbers
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StuckInBlr
Stealth
9 months ago
Source?
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car_guy
Stealth
9 months ago
Why the fuck is it even valued at >1B dollars?
+rapido indirectly doing layoff (performance issue)for higher paid employees. For the feedback, Internally no one is happy with the biased top management and HR not taking any actions on top management. I think in Google I haven't heard any one from top management fired in the last 6 months.
In a world where Twitter/X is still fighting for survival even after laying off 80% people, I don't see Sharechat surviving at all. Everyone there should start looking for opportunities outside.
Hearing that folks are being called one by one, and a lot of them knew this would happen, hence ended up staying at home (instead of coming to office)
Sad
Licht
Stealth
9 months ago
They kept trying to hire me for MLE, but knew something was sus since last layoffs
I was part of the last layoff in January, now again
Very bad situation 😔
If anyone needs help or wants to talk please let me know .... always available
MightyLazyGeekStar
Stealth
9 months ago
They have laid off in all of their divisions mostly.
Brutallyhonest
Stealth
9 months ago
That’s true news! Again this is happening due to a pressure from the investors
MightyLazyGeekStar
Stealth
9 months ago
Sigh. Pretty ruthless
Should have done after new year. Extremely ruthless and insensitive
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