Layoffs at Waycool.

Waycool is undergoing organisational restructuring, following the footsteps of UDAAN, don’t see any turning point due to the lay offs. One of the worst planned companies I’ve worked for in my 8 YOE.

- 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

https://www.moneycontrol.com/news/business/cognizant-says-revenue-will-decline-in-2023-to-lay-off-3500-employees-10523261.html/amp?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts

Almost 90% of the employees (appx 130) have been laid off with the remaining being absorbed by Affinidi India. Both of them are Temasek funded in-house ventures.

Is it true that CISCO is going to lay off 7% of its employees? Why are there so many layoffs happening in these times? Is technology taking our jobs?

Simpl has laid off over 25 per cent of its workforce, which is around 150-200 employees, this week, https://www.timesnownews.com/business-economy/companies/layoffs-intensify-another-indian-startup-announces-job-cuts-says-re-looking-headcount-to-prepare-for-new-economic-reality-details-article-99632767

Coditas laid off 75 freshers from 2023 batch

Headcount decreased from 145 to 80 with the target of bringing it to 50. Ceo is a dumbo with no clear understanding of product and future. They launched a new product called Verk which was an AI agent that could do tasks of all kind for you but in background they hired cheap labour to do those tasks manually. Total sham. They aggressively hired across verticals for it and when the bubble burst and investors whopped asses of Ceo and cto (who is a co-founder but just follows master’s orders) by asking them not to use funds raised for a different product to fund this new sham product, they fired people within 2-3 days. Extraordinary performers were let go of just because of office politics and bootlicking by non performing old timers. Btw some founding members also resigned citing future difficulties since this is the 7th pivot they are taking. Founder ensures no firings will happen and then fires folks the next day. Sham company. Beware before joining!