Fintech Startup Khatabook Fires Over 40 Employees In A Restructuring Exercise
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Fintech Startup Khatabook Fires Over 40 Employees In A Restructuring Exercise

01 Sep'23 | By
Fintech Startup Khatabook Fires Over 40 Employees In A Restructuring Exercise
SUMMARY

Khatabook fired 43 employees from sales, marketing, analytics and tech teams in the restructuring exercise

A company spokesperson attributed the restructuring to the reorientation of some parts of its business in line with its profitability goals

Khatabook’s net loss widened over 3X to INR 111.1 Cr in FY22 from INR 32.5 Cr in the previous year

Peak XV Partners-backed fintech startup Khatabook has seen layoffs that impacted over 40 employees in its bid to cut costs and turn profitable.

The impacted employees were informed about the move in a town hall meeting earlier this week. The startup has offered a three-month salary as a severance package to the impacted employees.

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