According to Inc42, citing sources, the latest job cuts have affected employees across teams and verticals.
“As an organization committed to creating shared value for our merchants and millions of customers across the country, we have made the difficult decisions to improve operational efficiency, reduce fixed and overhead costs as well as shed some Several measures have been taken by our talented employees,” said Ashish Kulshrestha, head of corporate communications at Simple.
Kulshrestha also said that the decision to lay off several employees will help the company achieve profitability and become a prudent organization.
The startup claims it will become profitable by mid-2025.
Those affected by the job cuts will receive two months' severance pay along with 15 days' pay for each year spent at Simple.
Additionally, the startup has offered medical insurance and outplacement services, the report noted.
In April last year, the fintech firm had fired about 120-150 employees. Founded in 2016, Simple has around 26,000 merchants on its platform, including Zomato MakeMyTrip, Big Basket, 1MG and Crocs.
“As an organization committed to creating shared value for our merchants and millions of customers across the country, we have made the difficult decisions to improve operational efficiency, reduce fixed and overhead costs as well as shed some Several measures have been taken by our talented employees,” said Ashish Kulshrestha, head of corporate communications at Simple.
Kulshrestha also said that the decision to lay off several employees will help the company achieve profitability and become a prudent organization.
The startup claims it will become profitable by mid-2025.
Those affected by the job cuts will receive two months' severance pay along with 15 days' pay for each year spent at Simple.
Additionally, the startup has offered medical insurance and outplacement services, the report noted.
In April last year, the fintech firm had fired about 120-150 employees. Founded in 2016, Simple has around 26,000 merchants on its platform, including Zomato MakeMyTrip, Big Basket, 1MG and Crocs.
