

Layoffs at Sharechat.
Layoffs are happening at Sharechat starting today. Each division is being asked to join a call and they are being announced. First call with product org - around 50 folks were impacted

They moved to a new massive swanky Office 3 months ago. Team parities were happening even last week. And they do this in last week of the year spoiling the new year plans of hundreds of folks!

Halal krne ke pehle aksar bakre ko khush rakha jata hai

Zibah* not halal

https://techcrunch.com/2023/12/19/sharechat-faces-large-valuation-cut-in-new-funding/
Huge down round now valued at 1.5bn from 4.5bn earlier

@HighMuseum yeah I just read this as well That's quite a reduction in valuation man
And wtf is up with startups - why are LITERALLY all of them raising a round and firing at the same time. It's almost rude.

How are the even valued at 1.5B? Do companies have a separate ad marketing budget for sharechat? Crazy numbers

Why the fuck is it even valued at >1B dollars?

In a world where Twitter/X is still fighting for survival even after laying off 80% people, I don't see Sharechat surviving at all. Everyone there should start looking for opportunities outside.

+rapido indirectly doing layoff (performance issue)for higher paid employees. For the feedback, Internally no one is happy with the biased top management and HR not taking any actions on top management. I think in Google I haven't heard any one from top management fired in the last 6 months.

Hearing that folks are being called one by one, and a lot of them knew this would happen, hence ended up staying at home (instead of coming to office)
Sad