Meesho lays off over 150 employees from grocery biz

The Meesho social trading platform has been dismissed by around 150 people, especially from the Grocery Superstore (Pharmiso) division, according to three people who realize their development. This happens when the SoftBank company and backed Facebook are in the process of integrating the Grocery Superstore App with the essentic application.

This will be the second example when Messeho has decided to fire large amounts of employees. Two years ago, it put more than 200 employees for stronger labor during the first wave of the Coronavirus pandemic.”Messeho has fired around 150-200 employees from the Superstore Division,” said one source requesting anonymity. According to sources, layoffs aim to reduce monthly cashaburn and extend the runway.

“Meesho is on the market for more than a month to increase up to $ 1 billion but companies find it difficult to convince existing and new investors,” other sources said they also wanted to be named.While one source emphasized that more than 200 staff had been dismissed, Meesho’s spokesman had stated that 150 employees were affected by training.As soon as the Entrackr question on Monday night, Meesho also published a blog without providing details about the number of affected employees.

With this, Meesho joined several startup stage growth in India that recently fired a large number of employees. Last week, Edtech Unicorn Unacademy fired more than 600 employees in a cost cutting cost.In March, Furlenco furniture rental startup also fired 180 employees. EDTECH LIDO Company, Trell Social Trade Platform and OKCredit Startup Bookkeeping also shrinks comparable well-known from their employees this year. Entrackr exclusively reported this development.