Dunzo, a startup that specialises in hyperlocal fast commerce and is supported by Google and Reliance Retail, has reportedly postponed 50% of salaries for managers and above.
“All employees manager grade and above have only received 50% of the salary of June. Rest company says they will pay it later," the source told Business Today.
After obtaining a substantial $75 million fundraising round from investors like Reliance Retail and Google, the rapid commerce startup made the decision to fire 30% of staff in April of this year.
Following the investment announcement, the management of the company held a town hall meeting where they discussed a change in the business model. The corporation also made the decision to close half of its nationwide network of dark stores as part of this strategic transition.
Dunzo had laid off 3% of its staff in January as a cost-cutting measure. In FY2022, the company faced losses of ₹464 crore which was twice the losses faced in the year before that.