JoblessAss

Layoffs in Velocity ?

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

14mo ago

ObeseSoap32

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.

JoblessAss

Jobless14mo

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

ObeseSoap32

Microsoft14mo

Yes

MajorWear2

Startup14mo

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.

YevvaTaggedhele

Startup14mo

Not 4. 2

MajorWear2

Startup14mo

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

Asur

Swiggy14mo

Anyone from product team that was laid off?

MajorWear2

Startup14mo

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

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LooseGooseStealth14mo

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...