According to a report by ET, Bizongo has laid off approximately 15 per cent of its workforce, that is, about 50 employees. Officially, this is the company’s second round of layoffs in the past three years. In June 2020, it had let go of approximately 160 staff members. However, there were also reports of layoffs in early 2023, although the exact number of employees affected remains unverified. The company did not provide any comments on the previous layoffs.
The e-commerce-centric packaging firm, Bizongo, has decided to lay off some of its employees shortly after announcing a successful $50 million funding round.
The company is now directing its efforts towards its core business objectives.The spokesperson emphasised that letting go of employees is always a difficult decision, and the company is fully committed to providing support to those affected to the best of their abilities.
The eight-year old platform offers a range of services to its enterprise clients including digital vendor management, supply chain automation and supply-chain financing. Bizongo caters to enterprise customers in various sectors, such as fashion and lifestyle, pharmaceuticals, consumer discretionary and consumer staples. According to the company, over 50 per cent of the raw materials purchased by SME vendors through its platform consists of steel and aluminium.