.Rep ImageReliance Retail-backed Dunzo has laid off 75% of its own workforce, records Financial Express. Mentioning unknown sources aware of the matter, the report said that the internet delivery app right now has 50 employees in its center source as well as industry groups. The job decreases, depending on to the file, becomes part of a wider initiative to inhibit expenses and generate cash flow to address installing responsibilities, consisting of overdue wages to existing as well as past staff members as well as outstanding seller payments.Layoffs.fyi - the on the web tracker show that the job cuts were created on August 31, 2024. Dunzo delivers email to staff members As per the document, Dunzo has delivered an email to its employees updating all of them about the current downsizing. In the character, Dunzo debenture pending wages, severance, leave encashment, and other as a result of affected staff as soon as it safeguards the needed funds.Dunzo, which began as a concierge service, has undergone various shifts and also difficulties. The company, once concealed at $775 million, has been struggling to shut an important financing sphere. In May this year, Dunzo was actually supposedly near protecting $22-25 thousand via a mix of equity and also personal debt from both brand new and existing investors.In mid-July this year, the firm updated its own staff members that it resided in the final stages of closing a package, expecting to resolve dues within 10-15 times. Having said that, the transaction stopped working to appear with succeeding emails exposing constant delays as well as problems. The company is now seeking to diversify its own revenue resources beyond its main merchant-focused operations.
Published On Sep 2, 2024 at 01:35 PM IST.
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