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From corporate governance issues to cash crunch, Indian startups and their employees are facing tough times.
GoMechanic laid off about 70% of its workforce as the company restructures business after admitting "grave errors" in financial reporting.
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Food and grocery delivery platform Swiggy is set to lay off 380 employees "as a part of a restructuring exercise".
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Mohalla Tech Pvt., the parent of social networking app ShareChat and short video app Moj, has laid off about 20% of its workforce. The company said it needs to "prepare to sustain" through "external macro factors that impact cost and availability of capital".
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Cab aggregator Ola, which has forayed into manufacturing electric two-wheelers, laid off 200 employees as part of its group-level "restructuring" exercise.
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End-to-end digital healthcare platform MediBuddy laid off 8% of its workforce or around 200 people across all departments as a restructuring exercise.
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Software-as-a-service, or SaaS, voice automation startup Skit.ai sacked more than 100 employees, mostly from its India team, as part of the "restructuring process" amid the deepening funding winter.
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