Housing.com to fire another 200 employees this November
Advertisement
Housing.com will lay off another 200 employees in November to meet cost targets set by shareholders.
The strong move comes three months after thereal estate website fired 600 employees to focus on its core technology and product. The startup also shut a few categories including commercial properties , short stays and land business. This time, the layoffs will be across departments including product, marketing and operations. Housing.com currently has about 1,960 employees.
"The focus is to control cash burn," an investor in the company said, declining to be identified. A senior Housing executive said department heads across the company have been given targets to identify core strengths. "Unlike the last restructuring round where people were asked to leave because businesses were being shut down, this time the company is laying off without solid ground," the executive said.
Image credit: Businessnewsdaily
Advertisement
Advertisement
The strong move comes three months after the
"The focus is to control cash burn," an investor in the company said, declining to be identified. A senior Housing executive said department heads across the company have been given targets to identify core strengths. "Unlike the last restructuring round where people were asked to leave because businesses were being shut down, this time the company is laying off without solid ground," the executive said.
Image credit: Businessnewsdaily
Advertisement
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market