Good Glamm Delays Salaries Amid Fundraising Challenges
- Good Glamm has delayed salary payments for some of its 300 employees due to difficulties in securing a new funding round.
- Management discussed possible downsizing during a townhall as a short-term measure to address cash flow issues.
- Salary disbursements are scheduled between January 6 and January 31, 2025, with the HR team providing updates.
Source: The Arc
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Wow - shameful for management to not be able to afford payrolls being a company of that size.
Are their C suite taking any pay cut?
What about the founders did they draw their salaries?
when a company become a unicorn, the founder's name are explicitly highlighted. But when there are layoffs, its only said a "management". We need to start naming and shaming such founders/managers.
We an employee fails his target, many managers go batshit crazy. Its high time we share their performance expectations with them.
For people who didnt know, this amazing company made a revenue of 252cr and a net loss of 272cr. These geniuses were practically paying people to use their products. Big learned investors invested money in them.
I hope they’re able to solve the situation soon. 300 employees is a lot
How do they make money?