CosmicTaco

WayCool Cuts Over 200 Jobs In Another Round Of Layoffs Within Five Months

CosmicTaco · 2024-07-26T17:20:23.547896+05:30

- WayCool has initiated another round of layoffs within five months, cutting over 200 jobs to streamline its business operations. - This marks the third layoff exercise within a year, affecting employees across Chennai, Bengaluru, Hyderabad, and its subsidiaries. - The company has raised around $300 Mn in total funding, backed by investors like Lightrock, Lightbox, Lightsmith, 57 Stars, and FMO. - Sources indicate the layoffs are due to financial struggles, including delayed salaries and client payments. - WayCool aims to achieve profitability by simplifying and automating roles, with plans to complete its bridge round funding by August. Source: Inc42

WayCool has initiated another round of layoffs within five months, cutting over 200 jobs to streamline its business operations.
This marks the third layoff exercise within a year, affecting employees across Chennai, Bengaluru, Hyderabad, and its subsidiaries.
The company has raised around $300 Mn in total funding, backed by investors like Lightrock, Lightbox, Lightsmith, 57 Stars, and FMO.
Sources indicate the layoffs are due to financial struggles, including delayed salaries and client payments.
WayCool aims to achieve profitability by simplifying and automating roles, with plans to complete its bridge round funding by August.

Source: Inc42

11mo ago

Talking product sense with Ridhi

9 min AI interview5 questions

You're early. There are no comments yet.

Be the first to comment.

Discover more

Curated from across

Indian Startups16mo

by DerpyRaccoonUX/UI Designer

Layoffs at Waycool.

Agritech company, Waycool has again started layoffs majorly from its tech stack called Censa. Censa might see a shut down. Company laid off 300 employees in September, 2023.

Layoffs23mo

by QuirkyBiscuitJumbotail

Lay off at Waycool foods and products!! 300 already laid off as of now.

Waycool is undergoing organisational restructuring, following the footsteps of UDAAN, don’t see any turning point due to the lay offs. One of the worst planned companies I’ve worked for in my 8 YOE.