HomeLane, an online home interior and renovation platform, laid off approximately 30 to 40 employees in product and technology roles in early March 2023. This reduction affected a small percentage of its workforce, which is estimated to be between 1,000 and 5,000 employees. The layoffs were part of the company's strategic shift to achieve EBITDA profitability by June, leading to the shutdown of some ongoing initiatives. This decision occurred against the backdrop of a challenging funding environment and broader market uncertainties impacting the tech industry. The Bengaluru-based company, which operates in the home services and interior design sector, had reported a significant net loss of ₹153 crore in FY22 despite growing revenues.
