The year 2023 has seen a downfall in hiring and an increase in the number of layoffs. Now, reports have circulated that Simpl and Koo have laid off employees.
Simpl to layoff 150 employees
India’s leading 1-tap checkout network meant to make payments invisible and money intelligent, Simpl will sack 25 percent which is nearly 150 employees from various departments.
CNBC report said that Nitya Sharma, CEO and Co-Founder, Simpl has sent a goodbye letter as an official e-mail while sharing its reasons and future focus with affected employees.
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In a letter shared by CNBC Nitya Sharma, CEO, and Co-Founder, Simpl said, “After the first wave of COVID, between June-2020 to Jan-2022, we grew our business almost 10% with a lean 150 people team. In early 2022, we were optimistic about the growth of e-commerce in the near term, felt confident in our ability to execute against complex problems facing e-commerce growth, and decided that we must lean in, hire fast and execute multiple initiatives at the same time to advance our mission of making e-commerce bigger, simpler, trusted and democratic.”
“The world is now changing, e-commerce growth has slowed down in the near term and we need to focus on doing a few things that our customers value extremely well. While we can’t fix the past, we have to take this corrective action to position the company for a stronger future”, Nitya Sharma added.
Twitter’s rival Koo to Sack 30% staff
An Indian microblogging and social networking service, Koo will let go 30 percent of its workforce over the year. The reason for the layoffs is the current global meltdown.
The company will be supporting the affected employees through compensation packages, extended health benefits, and outplacement services.
As of now so far in 2023, there have been 803 layoffs at tech companies with 231,218 people impacted (2,102 people per day). In 2022, there were 1,557 layoffs at tech companies 243,318 people were impacted (667 people per day).
