CarDekho

CarDekho, a Ratan Tata-backed unicorn in the used-car marketplace industry, conducted layoffs in early August 2022 as part of a broader trend of startup job cuts amid a persistent funding crunch. While the exact number of employees affected was not officially disclosed, the layoffs targeted roles across junior and mid-senior levels, including retail associates and inspection engineers. The company framed the terminations as performance-based actions under a performance improvement plan (PIP), citing a shift in focus toward achieving profitability and creating leaner teams. This restructuring reflects the challenges faced by startups during a period of tightened investor funding.

In May 2020, the online automobile marketplace CarDekho laid off over 200 employees, a move that impacted its workforce of approximately 5,000, including third-party staff. This reduction, representing a significant portion of its personnel, was driven by severe challenges in the automobile sector, which faced a sharp downturn with no business for two months and uncertain prospects for the following six to eight months. Concurrently, the company implemented pay cuts across various salary brackets, ranging from 12% to 45%, with senior management absorbing the highest reductions. As a unicorn startup valued around $643 million and backed by investors like Sequoia Capital, CarDekho's actions reflect the broader industry strain during the COVID-19 pandemic, affecting other players in the used-car digital marketplace as well.