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SqueakyHamster
SqueakyHamster
Atlys

Things aren’t good at Nykaa

I left the product design team of Nykaa a few days back & I foresee things going from bad to nasty. My x colleagues are telling me how a large bunch of folks are put on PIP deliberately. Almost all of them have gotten no or single digit appraisal. Just this week they are now forcing even the Tech. Employees to work from office for 5 days a week, this will ensure that a lot of people will eventually leave the company. The new CTO is just trying to bring the amazon work culture, don’t be surprised to hear some bad news about Nykaa in coming days. The fashion business is itself struggling to make business, Superstore might not make any profits anytime soon.

22mo ago
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CosmicSushi
CosmicSushi
Amazon22mo

Aisa hi hota hai. Fucking dont take leaders from this shothole called amz. Same thing happened with a ****easy, the L7 PM they poached from amz is VP now. Nai ata inko dhanda karne or proper teams set karne.

SqueakyHamster
SqueakyHamster
Atlys22mo

Amazon product team is so bad dude. They are just ruining the work culture across and it’s absolutely damn disheartening to see such things happening.

WobblyBanana
WobblyBanana
Stealth22mo

Whenever i see a leader who has prev amazon experience i never join that company - and this is from someone who worked at amzn

WigglyWalrus
WigglyWalrus
Stealth22mo

Time to short Nykaa Shares

SquishyWalrus
SquishyWalrus
Stealth22mo

Buy karo. Expense reduce ho raha hai

SleepyPancake
SleepyPancake
Tech Mahindra22mo

Lol Nykaa shares are valued Ultra Pro Max

ZoomyPickle
ZoomyPickle
Nagarro22mo

Inflated profits before IPO and The promoter made tonns of money by offloading the shares at skyrocketing premium. Now the business is back to square one with abysmal PAT and the firing is inevitable.

SqueakyHamster
SqueakyHamster
Atlys22mo

They are very image specific , so silent layoffs are going to happen. They know very well that they have a good name in the industry so they can afford to hire employees at dirt cheap price. That’s what they are going to become. A dirt cheap labour company

ZoomyPickle
ZoomyPickle
Nagarro22mo

I had a friend of friend making 60LPA as a php developer having around 5 YOE last year. That's crazy and mind-boggling.

WobblyBanana
WobblyBanana
Stealth22mo

Om shanti 🙏🏽

FluffyNugget
FluffyNugget
Plivo22mo

Man when will things turn around 😓. Everywhere it’s getting difficult to stay

DerpyNugget
DerpyNugget
Stealth22mo

Hi @iyush, i am also facing the same bad work culture at my company, just wanted to know if you joined any other company or still looking for option. If it is then please do share some points to get job. (Whatever points you want just share so that anyone can get helpful tips). Thanks

SqueakyHamster
SqueakyHamster
Atlys22mo

Haha I joined a saas company a month back. Indians Saas will do wonders in the next 10 years go join such companies.

DerpyNugget
DerpyNugget
Stealth22mo

That's nice to hear that, any preparation points or job sites you wanted to mention (hidden gems)?

ZestyBanana
ZestyBanana
Stealth22mo

What according to you is wrong in the Biz model

SqueakyHamster
SqueakyHamster
Atlys22mo

Their business will be easily challenged once Reliance’s beauty platform TIRA beauty start functioning at high discounted prices. Their fashion business is already suffering with “too costly “ tag among women buyers ultimately hindering them from competing with Myntra. If their backbone beauty business suffers losses then they will first stop fashion and superstore businesses. That’s why they are now focusing on cost cutting.

SqueakyWalrus
SqueakyWalrus
NSEIT22mo

Forced department wide PIPs, welcome to our world.

DancingBanana
DancingBanana
Swiggy22mo

That’s unfortunate

I’m guessing this is again a pressure of being a public company, you have to squeeze employee productivity ultimately

SqueakyHamster
SqueakyHamster
Atlys22mo

Yeah the pressure has always been there but now they are just trying best to minimise expense.

FuzzyNoodle
FuzzyNoodle
Stealth22mo

The Burning Train

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Indian Startups
Indian Startups14mo
by PrancingMochiProduct Owner

Nykaa - Company Culture?

Don’t ever get to hear any news about Nykaa lay offs/ cost cutting by firing employees. Are they really such a stable startup? Also why are their employees never active on Twitter/ LinkedIn? What is the company culture like?