FuzzyCupcake

CRED is doing silent layoffs[Don’t join]

I along with some others from my team have been laid-off and the reason they are giving is performance issues but thats not the case. Even the most hard-working folks are being laid-off. Its not just my team its across org. They can’t make money due to their business model and silently laying off people to save their reputation in the market. They have unexpectedly high expectations from their employees.

“It all golden from the outside but inside its rotten”

11mo ago

Jobs

One interview, 1000+ job opportunities

Take a 10-min AI interview to qualify for numerous real jobs auto-matched to your profile 🔑

+322 new users this month

FluffyDumpling

MongoDB11mo

The business model always looked shady. Finally turning to the model which is as old as time- lending. You can't make money other than this, quite simple! Wouldn't be surprised if they closed everything down and just focused on increasing the unsecured lending business. Time to smell the coffee!

FuzzyCupcake

Deliveroo11mo

All the fintech super apps are pretty much the same which increases competition and lower the revenues in the segment.

PerkyNoodle

Gojek11mo

Are they paying severence? Or just forcing to resign?

FuzzyCupcake

Deliveroo11mo

forcing to resign but kind enough to pay severance

ZestyQuokka

Hinge11mo

Never golden from outside, we knew it was a ticking bomb.
If, for years, a company is not able to make money and sitting on VC cash - bound to fail.

You are lucky you got out of this. Much better things in store for you. Best wishes 🙌

SparklyCupcake

Stealth11mo

But this is how tech companies work. It takes time to figure out scalable business models. If CRED wanted to be small profitable company, it could have done it just using an NBFC license. If you aim to be build something that’s never been built before, there is no playbook to copy and you are always fighting to survive while chasing audacious goals.

Discover more

Curated from across

Indian Startups27mo

by ZoomyBagelAnalyst

No layoffs at Cred?

Why hasn't Cred laid off despite their massive losses? Looks like VC pressure doesn't apply to certain people.

Indian Startups15mo

by BouncyDonutMarketing and Growth

Hearing rumours about CRED layoffs

Market and news media has been reporting that CRED is scaling up revenues and building huge loanbook, but seems like they are also now laying off people. Why?