Sharechat layoff

This morning, ShareChat laid off twenty percent of it's entire staff. The laid off employees were locked out of their system and received the communication of their lay off in their personal email. This is the biggest layoff by ShareChat so far. Many of the features of the ShareChat and Moj app have been told to shut down and their entire team is fired. The employees are offered 45 days of severance pay, leave encashment, bonus and are allowed to keep their system with them.

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

ShareChat’s 62% increase in revenue for FY23, at Rs 540 crore. However, its losses widened 38% to Rs 4,064 crore

Can we please share the companies which are laying off and kind of roles laid off? 1. Goldman Sachs -Consumer Banking 2. Twitter -Marketing If you have any other companies also please post in comments

Hearing that people are getting laid off over emails.

What is the current state of sharechat ? Last i heard, they were not doing well

Meesho will be firing 251 employees this week. I have many batchmates in this org and have heard nothing but good about this company. Sad to see this economy claiming another victim in the form of Meesho.

There was some call around 9 AM today, some folks are laid off. Didn't know the % yet.

I don’t understand what the point really was - companies with a bad product are still struggling - companies with a good product are still growing - rent in Bangalore, Mumbai is still sky high - salaries are still high, people are still asking for more - food is expensive as ever - stock prices of companies that fired people never really went up Someone make any sense or any of this?