Social commerce startup Trell is reportedly planning to lay off approximately 300 employees in March 2022, which represents about 50% of its total workforce. This significant downsizing, primarily affecting content moderation and operations teams, comes amidst a contentious review by audit firm EY into alleged financial irregularities by the co-founders, including accusations of fund misappropriation. The layoffs are part of a broader company restructuring, driven by investor concerns over cash burn and governance issues, despite Trell having raised around $62 million and achieving a valuation near $130 million. The situation highlights internal conflicts between investors and co-founders within India's competitive startup landscape.
