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Brand Marketing Manager

https://www.businesstoday.in/entrepreneurship/news/story/flipkartfoundersachinbansalsnavitechnologieslaysoff20employeesplansonraisingfundsviadebentures38954620230713

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https://www.businesstoday.in/entrepreneurship/news/story/flipkart-founder-sachin-bansals-navi-technologies-lays-off-20-employees-plans-on-raising-funds-via-debentures-389546-2023-07-13

Navi : Check for revised HR policy & Appraisal methods

Product Manager

Navi : Check for revised HR policy & Appraisal methods- Grapevine

Navi Technology founded by Sachin Bansal is doing mass layoffs which started on Tuesday (11 July)

Mass Layoffs at Navi Technology

Damn no wonder they are firing 
 I know some average freshers who joined at 21 base last year  
 Overpaying for average talent always results in firing in startups,is what I have observed

Data Scientist

Software Engineer

Welcome to Indian Startups's Private Community

Happened last week. 

Navi does this half-yearly if not quarterly. Supposed to be performance based but systems and checks are not in place to assure the process is unbiased. 

Myntra - not an organisation which does layoffs much. 

Please shed some light.

Navi & Myntra - layoff or mass resignation???

Investor

I was talking to one of the Navi recruiters and she became uninterested once I told her I was recently impacted by the layoff and can join within a few weeks.
I mean it's funny how they don't want to interview immediate joiners who are impacted by the restructuring.
I'm surprised as other company recruiter eyes lit up knowing I can join immediately but navi finds it disgusting.

Funny incident with navi

Had a similar experience with udaan in 2022. Later the recruiter itself got laid off 💀

Business Analyst

Which startup has the most toxic work culture?

Ola.  
 I doubt there’s any startup which comes even close in terms of Ola’s toxicity.

Software Developer

Welcome to Business Roles's Private Community

Is it true that most people from senior position (including the likes of Bajaj veteran in credit risk ), business heads from different verticals have resigned?

How's Navi Technologies?

Welcome to Office Gossip's Private Community

I've been hearing some pretty bad things about Navi's work culture - esp. in the analytics teams. Apart from the 12-14 hour days, apparently you're not even allowed to take leaves. If you want to go home for a few days, you're asked to apply for wfh for those days. If you want to wfh, you're asked to apply for a sick leave and then work nevertheless.
 
Can someone from Navi or otherwise confirm this?

Work culture at Navi

Team Lead

Someone from my connections told that Flipkart have consulted Bain/BCG ( don't remember exactly) and are planning to fire 10% of the workforce

Anyone heard something?

Flipkart Firing?

Analyst

Hearing another mass layoffs on the cards at a fintech startup that is into lending, insurance and mutual funds in Bengaluru, which had laid off about 20% in June last year !

Another Mass Layoff on the cards...

Systems Architect

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

HR is having 15-20 meets everyday, anyone can confirm with their calendar. 

Multiple HRs multiple laid off people. Zero severance. They are pressuring people to resign and saying you have to resign today itself! 

Market is going to get flooded with Paytm folks. 

Worst regret is that management and CEO made bad decisions and flunked compliance / risk. But after crackdown by RBI they are making employees suffer. 

It is heard that this will continue to go on till months. 

There should be a course on how to behave and work like a CEO.

Paytm is laying off people since May 27 (forced resignation)

Spotlight on Cleartrip, grocery and Shopsy; $1-billion funding in progress at company.

Flipkart may trim rolls by up to 7% in yearly refocus

Flipkart is planning to layoff 7% of its workforce

Research Engineer

Around 200 fired across several departments, mostly tech and analytics.

Layoffs at Navi

I'll be joining Navi next month as a fresher. Just heard about the layoffs. How should I proceed in this startup. Should I start preparing for new opportunities or wait almost a year ( if they don't layoffs) for future opportunities? 
Company is doing good at financial terms I guess.
Confused kindly suggest all opinions are appreciated?

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