Dunzo, an online delivery platform laid off 75% of its workforce. After laying off 150 employees, company has only 50 employees to carry on the business.
Dunzo, which has been a household name in cities like Bengaluru, Delhi, Gurugram, Mumbai, and Chennai, has been struggling to manage its finances.
Backed by Reliance Retail, the company has been looking for ways to cut costs and stay afloat.
According to Financial express, Dunzo had informed its employees in july that it was close to securing a $22-25 million deal that would help stabilize the company.
But as the days passed, the funding never materialized, leaving the company with no choice but to downsize drastically.
Now, the company is looking to diversify its revenue streams beyond just merchant services in a bid to stay relevant in the market. This move could either save the company or push it further into the abyss.
So, what does this mean for Dunzo’s future? Can the company bounce back from this, or is this the beginning of the end?
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