Meesho started layoffs !!!!
There was some call around 9 AM today, some folks are laid off. Didn't know the % yet.
@WageSlaveX , Meesho recently reported good GMV numbers and seems to be doing well.
Why the layoffs?
Maybe they are fake and used to cover up this thing...last time they laid off the entire SDET team and announced 10 days of Diwali off.
Heavydriver
Stealth
a year ago
The number is correct and it was not performance based ,many talented individuals are laid off . It was all about the 💰💵
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StartupBaba
Stealth
a year ago
Don't believe what companies say. The number may be much higher
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SrSoftieBro
Stealth
a year ago
Its important to understand that these are not perf related layoffs. Sure this is a good time for companies to shed dead weight, but that alone won't suffice for the budget targets they have to hit. Non critical projects, platform initiatives, QA, etc. get hit badly. Talented folks get impacted. Getting laid off / not in this environment is a matter of luck.
Yeah, Half of the security team laid off. Even the director and manager were also laid off.
@Lshfjsi how come platforms team come under fire? They literally maintain the platform if they're gone then the whole company is gone
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Hearing that super senior folks have been fired
Senior directors also part of the laid off cohort
Also hearing that this is not performance related at all, top performers are part of the layoffs
ShiroToki
Student
a year ago
Digital buddh bazaar which is operated only by IITians
This is sad.. looks like Meesha business model is not working.. are they planning to pivot ?
Maybe...TBH they don't have sustained biz model to make money. They are burning VC money.
Maybe in the future they will do so.
What is their business model? Can they charge 30% and scale the business exponentially? And the sellers have to stick with the platform regardless...
If one of them is false, the business model is based on burning VC money...
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Sonny
Stealth
a year ago
Number is closer to ~25%
Meesho to fire 251 employees, says it made judgement errors in over-hiring ahead of the curve
https://www.moneycontrol.com/news/business/meesho-to-fire-251-employees-says-it-made-judgement-errors-in-over-hiring-ahead-of-the-curve-10531531.html
News already covered, saar.
Bhaiyyaji
Student
a year ago
Bhaisahab ne to Number hi share kar diya
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More here.
Meesho to fire 251 employees, says it made judgement errors in over-hiring ahead of the curve
https://www.moneycontrol.com/news/business/meesho-to-fire-251-employees-says-it-made-judgement-errors-in-over-hiring-ahead-of-the-curve-10531531.html
NeatFrame72
Stealth
a year ago
Meesho has been laying off for some time now
zoro88
Stealth
a year ago
Heard that they did it with a lot of transparency, good severance & insurance etc. for a good chunk of time. Better than so many other companies
coderx
Student
a year ago
https://www.moneycontrol.com/news/business/meesho-to-fire-251-employees-says-it-made-judgement-errors-in-over-hiring-ahead-of-the-curve-10531531.html
Mehanti
Stealth
a year ago
Over good earnings why they are playing with Employees, Market is already impacted, Shame
A very small small startsups are sustaining with very limited funding round but these type of shitty startsups are playing Layoff Layoff
Bycott meesho
PlushHearth2
Student
a year ago
https://twitter.com/chandrarsrikant/status/1654332728777801728?t=5KpSYbzeZcKnLq_IjpfDnw&s=19
15% 250 odd employees
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