Gold Loan Provider Rupeek Lays Off 200 People In The Name Of Cost-Cutting
Bengaluru-based gold loan provider Rupeek has laid off around 200 people from its workforce across multiple teams.
A Rupeek spokesperson said, “With deep regret, we have taken the difficult decision to part ways with 10-15% of the employees.” This pegs Rupeek’s workforce at around 1300-2000 people. However, the startup’s LinkedIn page says it has 1,249 employees.
The spokesperson did not share details of the impacted teams.
He, however, explaining the reasons behind the layoffs to a well-known publication, said, “The subdued macroeconomic environment has compelled us to re-calibrate our strategy, relook at our costs and make our organization structure leaner, so as to support our sustenance and growth.”
According to the spokesperson, Rupeek will support the outgoing employees, yet, he did not share further details on the same.
Incidentally, Rupeek is still hiring for seven senior positions for its Bengaluru office.
