Udaan, the Indian B2B e-commerce platform in India is reportedly set to lay off employees in the second round of layoffs this year, in a bid to achieve profitability.
Though the exact number of people to be affected in this round is not officially known, some media reports suggest that 350 employees will be impacted, most of whom would be contract workers and sales supervisors. The Morning Context mentions that the Company may lay off about 1000 employees this time.
Earlier, in the month of June 2022, Udaan had fired 180 employees to cut costs and enhance efficiency of operations. At the time, media reports claimed that about 700 employees at Udaan had been rendered jobless.
The Company confirmed that it will lay off employees, as it is aiming to achieve efficiency and profitability. Some roles in the organisation have become redundant, and therefore, need to be removed. The outgoing employees will be given appropriate support from the firm as required.
Currently valued at $3.1 billion, Udaan received fresh funding of $231 million from new and existing investors, in 2021.
After its latest round of funding, the Company had claimed to be headed for IPO in the next 12 to 13 months, but instead, it has been laying off employees.
The Bengaluru-based Company was founded in 2016 by former Flipkart executives Amod Malviya, Sujeet Kumar and Vaibhav Gupta.
The B2B e-commerce platform is backed by investors such as Microsoft, Lightspeed Venture Partners and Nomura among others.
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