Fast trading platform Dunzo lays off 30% of its workforce

0
93

New Delhi, homegrown fast food delivery service Dunzo laid off at least 30 percent of her workforcenearly 300 employees, after raising $75 million in a new round of funding.

According to sources, Kabeer Biswas, founder and CEO of Dunzo, told employees in a town hall meeting about the latest round of dismissed.

When reached, Dunzo did not immediately comment.

The Economic Times was the first to report on the development. By January, Dunzo had laid off 3 percent of its workforce over cost-cutting measures as the company looked at team structures and network design to build efficiencies into its teams.

The fast trade platform will also close 50 percent of its dark stores and will now join supermarkets and other merchants.

Ecommerce player Dunzo raised $240 million in January 2022 to expand his footprint in India.

The freshly raised funds would be used to enable immediate delivery of supplies from a network of micro-warehouses, while also expanding the ‘B2B’ business vertical to enable logistics for the local merchants.

The investment was led by Reliance Retail Ventures, with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.