Udaan Lays Off Over 100 Employees
Following a restructuring exercise, B2B e-commerce platform Udaan laid off more than 100 employees in September.
The Bengaluru-based company restructured its business units to combine the essentials (FMCG, staples, and pharma) and discretionary (general merchandise, lifestyle, and electronics) segments.
Vivek Gupta, who was in charge of the essentials business, left his operational position. The consolidated unit will be led by Uday Bhaskar, who was appointed by the company.
"We have already made significant progress in our journey towards building a profitable business and continue to make relevant interventions to our already proven business model, while remaining customer centric and agile," an Udaan spokesperson said, confirming the layoffs during the restructuring. However, these interventions have resulted in some system redundancies."
"We remain committed to our goal of driving Kirana commerce and empowering small & medium businesses of Bharat by leveraging the power of e-commerce," said a spokesperson as per media reports.
This was the company's first layoff in 2023. In 2022, Udaan laid off over 500 people in two phases. Udaan intends to grow and profitably before going public in the next 12-18 months. Last week, the company raised $340 million in equity and convertible debt from new and existing investors.
