CityMall Lays Off 191 Employees

As it struggles to navigate the current market conditions, the social commerce platform CityMall has laid off 191 employees. In March, the startup raised $75 million. CityMall, based in Gurugram, is a community commerce platform backed by General Catalyst, Elevation, Accel, and Waterbridge.

According to a LinkedIn post, "191 of our employees will be parting ways with us due to structural changes across functions at CityMall." The layoffs affect at least 30% of the company's workforce.

"After exploring multiple options, we've realised that there are certain roles within the company which had to be dissolved to align to our evolving business model and the current business environment," the startup posted.

CityMall specialises in grocery, fresh and packaged FMCG, electronics, and fashion. According to the platform, it will provide "outplacement assistance to all employees who will be leaving the company."

CityMall further commented, "Each & every employee affected by this layoff has contributed to building Citymall to what it is today, and this is one of the toughest decisions the company has ever had to make.”

To date, the startup has raised more than $110 million. CityMall, founded by IIT Delhi and IIT Roorkee alumni, aims to create hundreds of thousands of such micro-entrepreneurs and empower them to create "Bharat's" go-to e-commerce platform.