Meesho lays off 251 workers to ‘obtain sustained profitability’

Homegrown social commerce platform Meesho on Friday stated it has laid off 251 workers, constituting 15 per cent of the workforce, with the intention to “obtain sustained profitability”.

In a press release, the corporate stated that it has taken a tough choice to “half methods with 251 Meeshoites constituting 15 per cent of the worker base, as we glance to work with a leaner organisational construction to attain sustained profitability”.

The corporate stated that it’s dedicated to making sure all these impacted “have our full help and can be offered a separation bundle that features a one-time severance cost of two.5 to 9 months (relying on tenor and designation), continued insurance coverage advantages, job placement help and accelerated vesting of ESOPs”.

“We stay grateful for his or her contributions in constructing Meesho,” an organization spokesperson stated.

Meesho final yr shut down its grocery enterprise referred to as Superstore in additional than 90 per cent of cities in India, leading to a number of job losses.

In accordance with stories, almost 300 workers misplaced jobs after the shuttering of Meesho Superstore.

Meesho had rebranded Farmiso to Superstore, with an intention to focus on its continued focus to satisfy shopper demand for day by day necessities in Tier 2 markets and past.

Meesho Superstore was operational in Karnataka, Telangana, Andhra Pradesh, Gujarat, Madhya Pradesh and Maharashtra.

The corporate had launched a pilot in Karnataka to make on-line grocery procuring reasonably priced.