CosmicTaco

ShareChat Announces 5% Workforce Reduction Amid Performance Review

CosmicTaco · 2025-01-17T10:57:48.780037+05:30

- ShareChat is laying off about 5% of its workforce, marking the second round of layoffs within six months. - CFO Manohar Singh Charan clarifies that the layoffs are part of the annual appraisal cycle and not a cost-cutting exercise. ShareChat has been profitable for the last three months. - ShareChat's operational revenue increased by 29.9% in FY24, and the company raised $65 million in debt. Layoffs in the industry significantly decreased in 2024. Source: [Entrackr](https://entrackr.com/news/sharechat-cuts-5-jobs-as-part-of-performance-review-cycle-8623795)

ShareChat is laying off about 5% of its workforce, marking the second round of layoffs within six months.
CFO Manohar Singh Charan clarifies that the layoffs are part of the annual appraisal cycle and not a cost-cutting exercise. ShareChat has been profitable for the last three months.
ShareChat's operational revenue increased by 29.9% in FY24, and the company raised $65 million in debt. Layoffs in the industry significantly decreased in 2024.

Source: Entrackr

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FluffyDumpling

MongoDB3mo

Annual appraisal cycle my ass!

SnoozyWaffle

Sharechat2mo

I know employees were laid with no reason. From sales, brand solutions, design team etc

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