Meesho Lays Off 150 Employees in Restructuring of Grocery Business Days After Unacademy

Just days after Unacademy laid off people due to non-performance and role redundancy, social commerce firm Meesho has laid off 150 employees and third-party hires from its grocery arm ‘Meesho Superstore’. Meesho had recently integrated its grocery arm into its core platform. The company said that the downsizing was “aimed at bringing in efficiencies”.

Softbank and Facebook backed company in a blogpost said the people impacted in the retrenchment exercise included full time employees and third-party positions on six-month contracts at Meesho Superstore. These people’s roles “were reassessed to remove redundancies with the core business”, it added. Unacademy Lays Off Nearly 600 Workers, Aims To Become Profitable by Fourth Quarter in 2022

The development comes days after The Indian Express reported that Meesho has fixed an internal target of achieving profitability by the end of this year and was looking at ways to reduce its cash burn, ahead of its public listing in the first half of 2023.

The company said it is offering “severance packages and outplacement assistance to help those impacted secure new opportunities outside the company”. Meesho Allows Employees To Work Permanently From Anywhere, First-of-Its-Kind Boundaryless Workplace Model

Bengaluru-headquartered Meesho, which is aiming to compete against Amazon and Flipkart, joins the likes of a host of startups in the consumer tech space that have recently laid off employees, including Trell, Unacademy, Lido Learning and Shopee.

(The above story first appeared on LatestLY on Apr 12, 2022 11:33 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).