Mass Layoffs at Navi Technology

Yes , they have raised the debt money successfully

Please stop referring to this as ‘Debt Raise’. Raise is not a term to be used to replace borrowing. It fools the best of people working for startups. They have ‘borrowed money’ and will pay an interest/coupon on this. This ‘raising debt’ has got pharmeasy and lots of others in all kinds of trouble.

I know someone straight out of college was getting 35( 26 fixed + 9esop)

Same

All teams in tech , product and analytics, severance ke naam pe jitna bhi notice period banta hai uske accordingly

Feck.

Miq also mass firing started , my friend was fired just within 10 minutes, 5 years of loyalty gone in 5 minutes, MiQ used to be good earlier but last year they sold their equity to some VC , now VC are running behind them to increase profit hence lots of layoff and cost cutting to come

In Product if I am not wrong then around 60-70% are on either notice period(voluntarily resigned in the past few weeks) or have been fired(made to resign in the last 2 days)

Thats sad to hear. I wonder how can management be so clueless that only a week ago they are looking for candidates and then they suddenly start to fire people

I don't think Goto pays 35LPA for a fresher. Average is 15 and highest goes up to 25 for top universities.

Need one adult video streaming site to disrupt the industry. You don't need to pay them salaries at all

Service based companies

For which position, campus placement?

Sde1 and yes campus placement

Source?