Rebel foods Pvt Ltd (formerly faasos), which became unicorn has done layoffs in tech and product. ( We have no idea about kitchen staff layoffs) The number of people let go forms a considerable % of the total strength
Beware of joining such startups! They will surely name this as "performance" based removal, but what do you have to say for firing freshers you hired not even 6 months ago?
Fasoos is still a thing?!
Became a unicorn, when it really is a pig in a wig
I remember when they had listings in Swiggy / Zomato. Priced through TF roof I dare not order.
Raised 100 Cr debt basically means borrowed 100Cr at a high interest rate. A lot of funding round news is from Strides etc announced as a ‘raise’. Till the time employees themselves don’t understand financial basics they will always be surprised by firings. They took a 100 Cr loan to save the boat.
Thank you for explaining this!
Once again in the name of talent density, there is a 10% layoff from the company and further 10% are going to PIP. And this cycle will repeat in 6 month as stated in their mail.
Hey, I'm a reporter, trying to understand this better. Can we connect? My secure email ID is ssreporter@proton.me
Today mass layoff was done from Third Unicorn Devs, IT team, devops all were impacted
Layoffs in such early phase startup came as a shock
Could be due to new GST rules
What do you guys think?
Let me look for F to give
Happened at one of the startups in Indiranagar which is into halal personal care products. Recently raised funds upwards of $50m dollars. Huge number os sales team had been asked to go.
