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 |
Indian School of Business | ISB Professional Certificate in Product Management | Visit |
MIT | MIT Technology Leadership and Innovation | 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 was the first to report about a 15-20% layoff at ShareChat, earlier in the day. The online news site had also reported that ShareChat is set to raise $50 million in new funding, but at a valuation below $1.5 billion. ShareChat did not respond to ET’s requests for comments on the developments.
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