JamesHalpert

CityMall conducted layoffs today.

It was a pretty tense situation at the office.

Nearly all engineering managers were laid off, most of the SDE-2s who were not the core engineering team and a lot of SDE-1s who had just joined this year. Even the interns were let go today.

Pretty scary scenario today. Just putting out an update. Apparently it was done to please the investors for the next series of funding. Can't say for sure though.

13mo ago

AlphaGrindset

Series A Startup13mo

Oh damn That is unfortunate

Sorry if you’re affected

JamesHalpert

IDfy13mo

I am. It's fine though, it internally is a dumpster fire. Got other interviews lined up this week so hopefully, it'll be easy to move on.

AlphaGrindset

Series A Startup13mo

Hope you get something better soon :) Always liked the idea behind CityMall Sad that this is happening

SilentLamb

Laid off13mo

Layoff is constant at CityMall. I was impacted in Aug.

I am hearing that 30 more folks will be laid off next week and post Diwali Category team will be impacted.

The L1 of the company is of Yes man, if you don't say yes, your name will be in the list.

One employee was on paternity leave and he was laid off without any communication and I have many more stories like this.

Head of marketing, Head HR, entire TA team are laid off. The worst part is that they have asked to resign hence no severance for the laid off folks.

JamesHalpert

IDfy13mo

August? Damn. I had joined in July mid so I might have known or talked to you.

Yeah you heard right. I saw all of these guys being laid off in front of my eyes because I was working from office yesterday. It was effing brutal.

30 folks next week? Are they going to be from the tech team?

SilentLamb

Laid off13mo

Not sure mate but if you remember the Head of Ops was asked to leave and all the members he hired. Head of Product was laid off in July with few other members

MightyLazyGeekStar

Stealth13mo

Didn’t they do the same thing last year and rescind campus offers

JamesHalpert

IDfy13mo

Yep they had. I was not in the company last year but my colleagues shared the stories from back then.

Smash32q

Not available13mo

Typical PE run company .fire the employees before next series of funding..show savings ..add that to EBITDA....show higher PF EBITDA...make every investor happy ...founders will be happy.....continue cash burn...and repeat the same during next series of funding..

JamesHalpert

IDfy13mo

Yeah true. It's already out in the new on inc42 now. Move to please the investors. Nothing new for them.

Bumpy_Stock

Stealth13mo

That's an interesting take. Where else have you seen this?

Useless_de

Stealth13mo

What was your role? Also are you affected?

JamesHalpert

IDfy13mo

Can't share the role lol. I was in the smallest team there in the tech team and I'll get doxxed if someone from the company reads this lol. But yeah, I was affected too.