Layoffs in Velocity ?

Heard 20% of workforce is laid off in velocity this week.

16mo ago

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SquishyPanda

Microsoft16mo

They have been targeting employees to leave by pushing them by asking them to come to office even when sick or to please the CEO. Already 30-40 core people have left and now fired the rest.

JumpyUnicorn

Loco16mo

You’re saying this for - Velocity, which gives loan for D2C brands right ? In HSR, Bangalore..

SquishyPanda

Microsoft16mo

Yes

GoofyPretzel

Stealth16mo

This company culture is worst. There were total approx 150 employee. Due to bad culture 30 people already put papers. And now this 20%. Founders always says they have 4 years of runway.

JazzyJellybean

Stealth16mo

Not 4. 2

GoofyPretzel

Stealth16mo

When I was there it was 4 years. They updated it later.

JumpyNarwhal

Swiggy15mo

Anyone from product team that was laid off?

GoofyPretzel

Stealth15mo

Yes, few are already resigned due to bad culture. Director of product is also laid off.

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Indian Startups16mo

by ZippyMochiStealth

Layoffs at Velocity

Not surprised. They have a shitty model. Probably going to shut this FY or next unless they turn things around 180 degrees and fast. Similar case for others they've mentioned in the article as their competition.

https://inc42.com/buz...