Meesho Lays off 150 employees

Meta-backed Social commerce company Meesho has reportedly laid off 150 employees from its grocery business. The company took this decision after its latest restructuring and rebranding of its Superstore. Meesho decided to integrate the grocery vertical into its main shopping app after restructuring. This eventually led to a reduction of some workforce. The company has confirmed the latest layoffs. However, they have been given severance packages and Meesho will also provide outplacement assistance to them to get new opportunities.

The spokesperson of the company said: “About 150 full-time employees will be impacted by the restructuring of Meesho Superstore, which is aimed at bringing in efficiencies.” Meesho has around 2000 employees and now it doesn’t plan to lay off its employees anymore. However, some reports claim that about 400 employees were affected by Meesho’s downsizing.

However, Meesho denied this claim. Some sources said that this downsizing was done to check Meesho’s cash burn.Meesho was founded in the year 2015 by Vidit Aatrey and Sanjeev Barnwal. As of September 2021, the company’s valuation is $4.9 billion. In the fiscal year 2021, Meesho clocked a revenue of ₹792.8 crore.