Meesho Layoffs: 150 Employees Fired By SoftBank-Backed Unicorn

SUMMARY

Meesho has fired 150 full-time employees in a restructuring of its Meesho Superstore grocery delivery service

The layoffs follow Meesho's massive $570 Mn round in September 2021 which was said to be for expansion of the grocery business

Meesho's losses had touched INR 500 Cr in FY2021 on the back of a nearly 2x rise in expenses

Ecommerce unicorn Meesho has laid off 150 full-time employees in a restructuring of its Meesho Superstore grocery delivery service as it scales back after expanding in the pandemic grocery rush. The layoffs at Meesho come less than seven months after its massive $570 Mn fundraise in September 2021.In a further statement, a company spokesperson revealed, “About 150 full time employees will be impacted by the restructuring of Meesho Superstore which is aimed at bringing in efficiencies. The company is offering severance packages and outplacement assistance to help those impacted secure new opportunities outside the company.”

In a post on its blog about the layoffs and restructuring, Meesho said, “As we look to boost efficiencies in the light of the integration, a small number of full-time roles and certain third-party positions on six-month contracts at Meesho Superstore were reassessed to remove redundancies with the core business.”