WayCool Cuts Over 200 Jobs In Another Round Of Layoffs Within Five Months
- 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
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https://www.hindustantimes.com/business/scaler-lays-off-150-employees-to-reduce-redundancy-in-roles-report-101712740957366.html