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Layoffs
Layoffs
on
FluffyDonut
FluffyDonut
Stealth

Layoffs in simpl.

they laid off around 30-40% of their strength.

22mo ago
FuzzyDonut
FuzzyDonut
Stealth22mo

How do companies like Simpl even make money?

PrancingNoodle
PrancingNoodle
Zomato22mo

That’s simpl question, they don’t.

GigglyPotato
GigglyPotato
Slice22mo

@BumpyCup6 same as swiggy lol

PeppyCoconut
PeppyCoconut
Stealth22mo

Most fintech companies, especially BNPL are one circular (from the RBI) away from shutting down.

GigglyNarwhal
GigglyNarwhal
Stealth22mo

True. Simpl and LazyPay still operate in grey areas and just 1 RBI regulation away from being impacted. Also RBI regulations last year caused Slice to change their whole business model

JumpyPretzel
JumpyPretzel
Slice22mo

What’s the grey area they are operating in ? They pay the merchant directly right at checkout and earn a commission from that.

GigglyNarwhal
GigglyNarwhal
Stealth22mo

They followed suit with ZestMoney I guess. They had layoffs last week and removed 25% junior roles across all depts. PhonePe took 25 senior folks

GigglyNarwhal
GigglyNarwhal
Stealth22mo
  • 25 people from senior folks
WobblyBanana
WobblyBanana
Simpl22mo

Every department is affected

FluffyNugget
FluffyNugget
Plivo22mo

Wow are layoff % increasing ?

SillyKoala
SillyKoala
Cred22mo

Hey, which departments are affected?

FluffyDonut
FluffyDonut
Stealth22mo

Will update you soon.

SillyDonut
SillyDonut
TCS22mo

And they gave me huge cashback on bms and mmt.... Simpl and Lazypay are good products but they need to respect their employees as well

FuzzyBagel
FuzzyBagel
Barclays22mo

Wow, 30% is a lot

ZoomyMuffin
ZoomyMuffin
Amazon22mo

Heard that the user research team was let go

JumpyPretzel
JumpyPretzel
Stealth22mo

Damn!! 30-40%!!! 😳

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