MarketingIN

Airmeet Layoffs

May 2023

Airmeet announced a layoff affecting 75 employees (30% of its workforce) in May 2023. The company operates in the Marketing sector.

People Affected

Percentage

30%

Announced Date

May 25, 2023

About

Prosus-backed virtual events platform Airmeet has laid off approximately 30% of its workforce, affecting at least 75 employees out of a total of 250-300 staff. The layoffs, which occurred earlier this week, impacted teams across sales, marketing, technology, and operations in India, the US, and Europe. CEO Lalit Mangal cited reduced marketing budgets and rapid commoditization in the virtual event industry as key reasons, stating that current execution was not yielding the needed financial outcomes. The Bengaluru-headquartered startup, which raised $35 million in Series B funding over a year ago, aims to extend its cash runway and improve operational efficiency amid a broader funding winter affecting Indian startups.