E-Commerce Companies Are Also Not Exceptional For Layoff!!! Fired 15% of Employees: Most of the IT, Manufacturing, Banking & Financial and even more companies in different sectors are performing layoffs to face the downturn in the economy. E-Commerce companies are also performing layoffs due to this crisis. E-commerce giant, Amazon has performed different rounds of layoffs in recent times.
Recently, the homegrown e-commerce company, Meesho has laid off nearly 250 employees to reduce their spending costs to improve their annual profits. This count is about 15% of its employees. According to the report, this is announced by the Founder and CEO of Meesho Mr. Vidit Atre through an email. He also states that the laid-off employees will get ESOP benefits along with the additional monthly pay.
Shopsy is also planning to fire over 20% of its employees; this would be around 2000 people. It is expected that this layoff would impact employees in different sectors. The company also laid off 10% of its employees last year, which was around 1000 employees. The workers are bracing themselves to face the layoff and recessions.