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Layoffs
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ZestyPretzel
ZestyPretzel
Practo

Layoffs at Practo

Quite a large number of people were asked to resign gradually over the 3 weeks.

The impacted personnel include SEs,Some PMs, and EMs too.

Looks like a massive downsizing. Around 30 percent of the folks seem affected, but I'm not sure on that number.

No severance. A month of notice.

23mo ago
FluffyNugget
FluffyNugget
Plivo23mo

How do they justify no severance ?

ZestyPretzel
ZestyPretzel
Practo23mo

Most Indian startups don't give severance. They ask their employees to resign or they'll give bad feedback in their termination letter.

FluffyNugget
FluffyNugget
Plivo23mo

Wow wtf

SnoozyBanana
SnoozyBanana
Stealth23mo

Practo engineering team is down to just 35 members now. Close to 50% of the engineering team was laid off

ZestyPretzel
ZestyPretzel
Practo23mo

Can be. I'm not aware of the exact numbers.

SquishyQuokka
SquishyQuokka
Stealth22mo

I remember a time where they were 100 PMs working in Practo

SquishyUnicorn
SquishyUnicorn
Swiggy23mo

Wtf they are saying it's not due to cost cutting but due to performance https://www.indiatoday.in/technology/news/story/healthcare-app-practo-lays-off-41-employees-from-engineering-team-2357440-2023-04-08

ZestyPretzel
ZestyPretzel
Practo23mo

That's bs. I can confirm.

SquishyUnicorn
SquishyUnicorn
Swiggy23mo

You mean the article or ?

DizzyMochi
DizzyMochi
Stealth23mo

bc itne amount ka subscription bechte hain sort of monopoly type in this category, fir bhi ye condition hai

SquishyQuokka
SquishyQuokka
Stealth23mo

Paisa nahi hai.. I don’t think they are making any money. It is a sinking ship

DizzyMochi
DizzyMochi
Stealth23mo

might be true, since these days most indian startups are running on debt structure

SquishyQuokka
SquishyQuokka
Stealth23mo

What happens if they have esops ?

SillyCupcake
SillyCupcake
Smallcase23mo

Vested esops remain in your name

SquishyQuokka
SquishyQuokka
Stealth23mo

I have heard only for 5 years, then they go back to pool?

ZestyPretzel
ZestyPretzel
Practo23mo

This is a continuation to my previous post.

ZestyPretzel
ZestyPretzel
Practo23mo

Some engineering people with lot of dependencies were asked to leave. HR is motivating juniors, that they can do the work without the senior folks.

Which I think is not fkin possible.

ZippyCoconut
ZippyCoconut
Stealth22mo

That just results in further chaos and the existing team and product always suffers because of this type of behaviour.

PerkyCupcake
PerkyCupcake
Amazon23mo

👀

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