Momspresso Undergoes Layoffs And Shutdown

Mamaearth's Momspresso is all set to lay off approximately 80-100 employees.

And that is not enough, the subsidiary also operates Mymoney and according to sources he skincare company has decided to shut down both Momspresso and MyMoney at the end of this month due to surging losses faced by the latter.

The company had fully planned to launch its initial public offering (IPO) in December last year but postponed it to March due to unfavorable market conditions. 

The decision to lay off employees and close Momspresso and MyMoney is bound to have implications for both the affected individuals, and the overall company.