According to an ET report, e-commerce startup Meesho has laid off 150 people from its grocery business. The positions were axed after the company restructured and rebranded as Meesho Superstore from Farmiso earlier.
Last week of this month, the company announced its plans to merge the grocery business with the main app, leading the talks of restructuring and redundancies.
The company said in a statement, “About 150 full-time employees are affected by the restructuring of Meesho Superstore. The company is offering severance packages and outplacement assistance to help those affected secure new opportunities outside the company.”
The layoffs have been undertaken in a bid to reduce cash burn, the daily said, citing unidentified sources, It said.
The company has currently an employee strength of 2,000. Its grocery service, currently available in six cities, would be scaled up to 12 cities by the end of the year.
Meesho said in a blog post that the “redundancies” would not affect its core marketplace business where they continue to “hire and grow talent”.
