Acko Layoffs
April 2020
Acko announced a layoff affecting 45 employees (9% of its workforce) in April 2020. The company operates in the Finance sector.
45
9%
Apr 1, 2020
About
In early April 2020, amid the global COVID-19 pandemic, Indian insurtech startup Acko laid off approximately 45 to 50 employees, representing about 9-10% of its then workforce of 480-500. The layoffs, primarily affecting operations and marketing roles, were part of broader cost-cutting measures to extend the company's financial runway during a period of economic uncertainty. Senior leadership also took voluntary salary reductions of 50-70%. CEO Varun Dua cited specific business lines being impacted with no near-term recovery in sight, necessitating team consolidation. Despite the insurtech sector being relatively resilient, the pandemic prompted Acko, a venture-backed startup, to rationalize its structure to weather the storm.
Source
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