This just happened. The founder announced that they are laying off 30 people. He also announced that smallcase is taking over tickertape.

Software Engineer

Ahh just saw some people folks writing on LinkedIn about search for new role. Sad.

Product Designer

Product Manager

smallcase and Tickertape have been generating no revenue since last 2 years.

How will a company have 0 revenue lol spoken like a certified fool

Marketing Manager

As far as layoffs go, heard Tickertape and smallcase have handled it well it seems. Doing 1:1s with everyone impacted etc. and being transparent. Heard this from someone impacted.

Yes. Saw a lot of existing employees helping the impacted ones on LinkedIn. Heard that their CEO is in touch with everyone impacted personally.

Founder

Have used tickertape a bit and their product is very basic. Not sure how much revenue they were generating.  
  
 Screener is a lot better for researching stocks with more details.

Sales

Finance Operations

Software Developer

Really liked their prod and stuff they were building!

They’re not dead. Just laying off people you know

Business Development Manager

Social media part of their product is not very useful, no one needed that

AI Engineer

Product Marketing Manager

It's unfortunate but that sort of app doesn't need that many people. (Speaking as someone who has built a lot of products)

Yes, but they might have hired to expand in different categories, guessing that didn’t pan out

That's likely but you don't hire from instincts, you hire from experience. Management clearly failed.

Linkedin par toh bada family vibes daalte rehte the roz din posts m uske HR and how they hire only the best Engineers who are some god level coders. Who have no life other than building tickertape.

Well thats good to hear, looks like the management really cares, thats rare

I was shortlisted for APM in December then my profile was kept on hold where I followed up with HR over several calls 💀 
  
  
 Layoffs in Tech and Product as well?

Product Management

Absolutely crap product. There are superior products already  in the market

Please list some, would really love to check them out.

Have there been layoffs in smallcase as well?

Only Tickertape BU, in the current round.

Data Scientist

https://www.businesstoday.in/entrepreneurship/news/story/start-up-layoffs-tickertape-fires-33-employees-to-hand-control-back-to-smallcase-379198-2023-04-27

Hey just heard from my friend that Tickertape is planning mass layoffs  Apparently Business has been struggling with no scene of any funding Also heard that tickertape might have to give control ...

Hey just heard from my friend that Tickertape is planning mass layoffs 
Apparently Business has been struggling with no scene of any funding
Also heard that tickertape might have to give control back to smallcase

Layoffs at Tickertape

Layoffs at Tickertape- Grapevine

Heard from a friend that their team is seeing possible layoffs of 30-40% of people. Is this credible across smallcase or just their team?

More layoffs at smallcase?

Welcome to News Discussion's Private Community

- 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/)

BeepKart Lays Off 130 Employees, Shuts Half of Stores Amid Funding Crunch

Journalist

One of my batchmates got laid off . Wasn’t expecting this. I thought they were doing well

Layoffs at pinelabs

3 of my friends/acquaintances across levels have been laid off.

Zepto has started layoffs.

Welcome to Indian Startups's Private Community

INDmoney

Welcome to Office Gossip's Private Community

Quoting from The Ken (which btw I would highly recommend).

How many of you think this is true for Bangalore and problems that we are facing now with this generation.

+++++++++++++

Between 2020 and 2022, investors pumped billions of dollars into startups whose founders and leaders offered up the mythical “hypergrowth” narrative. Those startups, in turn, pumped money to hire and grow a layer of mid-level and senior-level executives whose job was to deliver on that hypergrowth narrative.

And salaries went through the roof. Hikes of 50% and above were par for the course.

Cut to the present.

If overvalued startups are widely recognised as a problem, can overvalued employees escape the same fate?

A CEO of a prominent company estimates that “in product and tech, 20-30% are in this category”. 



- Extract taken from Ken

Unhireable category of employees, how true is this?

CEO will always say employees are paid too much 
  
 Who exactly is recognising overvalued startups as a problem? Most are still trying to run the grift and were only hampered by interest rates lowering their runway. You can see how many are opening AI startups that have nothing to do with AI whatsoever, not to mention the number of Crypto / Web3 companies in our country. 
  
 Executive pay has always been the problem, take a look at any graph showing the skyrocketing ratio of Executive:Employee salary ratio, and for terrible decision making and management as a trend.

Support Engineer

Program Manager

Layoffs at Bounce

"If you have to conduct layoffs, which is always a regrettable thing, there's kind of three things that are very important. One is to communicate well with your employees in order to help them understand why it is you're doing, and how. Second is to make sure that the employees who are part of the go forward, understand kind of what happened and are not like the ground doesn't keep moving. It's like, okay, we did that, we're moving forward, here we go. And then for the employees that you unfortunately have to let go, try to provide as much support for them as possible." ~ Reid Hoffman

Layoffs

https://www.businesstoday.in/entrepreneurship/news/story/startup-layoffs-sequoia-backed-smallcase-lays-off-4-employees-374171-2023-03-20

Smallcase layoff 4% (15 ppl)

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

Bloodbath begins in India the real recession

Have heard some rumours that layoffs are gonna happen at Practo in a couple weeks.

Layoffs incoming

Has Zepto started laying off? few folks reached out to me for jobs!

Zepto Laying Off??

Boys and girls, Simpl is laying heavy this week. Stay tuned for my rant post in some days

Also Dm if you can refer for sde jobs, thanks

Simpl Layoffs

Bruh they were hiring last week. DM me for referrals at Angel One. (Fully remote for SDEs)

A Corp Bro creation, Keyplay enriched, community-sourced, no-pay-to-play, ungated, BS-free, list of tech companies who are still ACTUALLY hiring.

Who's Still Hiring? Find a Tech Job with Open Roles

layoffs.fyi^-1

Not surprised. They have a shitty model. Probably going to shut this FY or next unless they turn things around 180 degrees and fast. Similar case for others they've mentioned in the article as their competition. 

https://inc42.com/buzz/exclusive-revenue-based-financing-platform-velocity-lays-off-around-14-workforce/

Layoffs at Velocity

Generalist

Heard that Paytm is planning to layoff 10% of entire work force. Across all levels.

Heard cases that folks who were hired at market premium less than 30 days ago are now being asked to leave the organisation. 

And the layoffs will be hidden under the guise of mid year appraisals. #PaytmKaro

Layoffs coming up at Paytm

- BeepKart, a Bengaluru-based used two-wheeler retailer, has laid off over 100 employees in recent months, sources told Entrackr.
- The layoffs, affecting more than 20% of the workforce, occurred in phases starting after the April fundraise, impacting roles across marketing, tech, product, and operations.
- A source indicated that the layoffs, which included senior roles, were unexpected and likely aimed at focusing on profitability.
- Founded in 2020, BeepKart operates in Bengaluru and Chennai, and has raised around $18.5 million to date, with a current valuation of approximately $44 million.
- Despite the layoffs, BeepKart reported Rs 21.86 crore revenue for FY23, though it also posted losses of Rs 27.88 crore for the same period. 

 Source: [Entrackr](https://entrackr.com/2024/08/exclusive-beepkart-lays-off-more-than-100-employees/)

Layoffs at Tickertape

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