Mass Layoffs at Navi Technology

Yes , they have raised the debt money successfully

Please stop referring to this as ‘Debt Raise’. Raise is not a term to be used to replace borrowing. It fools the best of people working for startups. They have ‘borrowed money’ and will pay an interest/coupon on this. This ‘raising debt’ has got pharmeasy and lots of others in all kinds of trouble.

I know someone straight out of college was getting 35( 26 fixed + 9esop)

Same

All teams in tech , product and analytics, severance ke naam pe jitna bhi notice period banta hai uske accordingly

Feck.

Miq also mass firing started , my friend was fired just within 10 minutes, 5 years of loyalty gone in 5 minutes, MiQ used to be good earlier but last year they sold their equity to some VC , now VC are running behind them to increase profit hence lots of layoff and cost cutting to come

In Product if I am not wrong then around 60-70% are on either notice period(voluntarily resigned in the past few weeks) or have been fired(made to resign in the last 2 days)

Thats sad to hear. I wonder how can management be so clueless that only a week ago they are looking for candidates and then they suddenly start to fire people