HIINDIA.COM
South Asian Views On Global News - Update 24X7
ELI

Shiprocket-Owned Omuni lays off 35% of workforce

BUY-SELL | HELP WANTED | MATRIMONIAL

Shiprocket-Owned Omuni lays off 35% of workforceAugust 31, 2023New Delhi, Aug 31 (IANS) Shiprocket-owned retail SaaS (software-as-a-service) platform Omuni has laid off nearly 35 per cent of its workforce, or around 60-70 employees, earlier this month in a restructuring exercise, a media report said.According to Inc42, citing sources, the job cuts impacted employees from tech, product, sales and talent acquisition teams.The report also said that the Bengaluru-based company will also see the exits of the senior management team, including CEO and cofounder Mukul Bafna, and CTO Sumeet Chandhok, among others.”At Shiprocket, we are building a full-stack e-commerce enablement platform and are always looking for opportunities to create a much bigger business impact for our merchants through partnerships, mergers and acquisitions,” a Shiprocket spokesperson was quoted as saying.”As we explore synergies with acquisitions, including Omuni, it often results in the consolidation of the workforce at an organisation-wide level and we have integrated some teams across various group companies. As a company, we remain committed to our vision and, consistently delivering and upholding our employee value proposition,” it added.The impacted employees will receive a salary of two months as severance pay.Omuni, which was founded in 2014, is an omnichannel retail enablement platform for brands and retailers. Shiprocket bought Omuni from Arvind Internet Private Limited in July last year for a total consideration of Rs 200 crore in a stock and cash deal.Meanwhile, homegrown healthtech startup Kenko Health has laid off 20 per cent of its employees across functions.According to Entrackr, citing sources, the company fired at least 50-60 employees, however, the number could be higher. It was also trying to raise Series B funding.In February last year, Kenko Health raised $12 million in a Series A round led by Peak XV Partners (formerly Sequoia Capital India).–IANSshs/dpbhttps://ians.in/detail/shiprocket-owned-omuni-lays-off-35-of-workforce–20230831092705/

Replica of Print on your device!

CLICK & Send us 'hi' for Free Subscription

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept