Highlights

  • IPO-bound Udaan was last valued at $3.1 billion
  • 180 laid off, reports suggest over 600 employees affected by 'restructuring

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Startups Grounded! Latest firing, Udaan lays-off 180 employees

As per Inc42  nearly 30 startups collectively have fired over 10,000 employees over the last months.

Bengaluru-based unicorn Udaan is the latest newsmaker in the startup firing squad as it lays off around 180 employees and as per reports, the impacted number of employees could be as high as 600.

Operational in 900 cities, India's largest business-to-business e-commerce is cutting costs even as it had recently received $250 mn in a funding notefrom investors such as Microsoft, Nomura, Samena Capital et al.

Started by top Flipkart executives Amod Malviya, Sujeet Kumar, and Vaibhav Gupta in 2016, IPO-bound Udaan was last valued at $3.1 billion.This makes Udaan the 11th startup to layoff employees just in the month of June.

As per Inc42 nearly 30 startups collectively have fired over 10,000 employees over the last months.

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