The 15% headcount translates to about 200 employees at the company, which is backed by the likes of Google and Temasek Holdings.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| Northwestern University | Kellogg Post Graduate Certificate in Product Management | Visit |
| MIT | MIT Technology Leadership and Innovation | Visit |
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
“In alignment with our strategic vision, the company undertook a comprehensive restructuring effort to streamline operations, enhance productivity, and position the company for sustainable growth,” a ShareChat spokesperson told ET in response to a query on the layoffs.
TechCrunch reported about layoffs earlier in the day. Citing sources, the report also said that ShareChat is looking to raise $50 million in a new funding round at a lower valuation of below $1.5 billion.
The staff cull has impacted over 50 roles in the Bengaluru-based startup’s product functions, and more across other functions, going by unverified posts online.
This is a developing story. More to follow
