CityMall Layoffs
June 2022
CityMall announced a layoff affecting 191 employees (30% of its workforce) in June 2022. The company operates in the Retail sector.
191
30%
Jun 19, 2022
About
In June 2022, Indian social commerce startup CityMall laid off 191 employees, impacting at least 30% of its workforce, which had recently been over 500. The Gurgaon-based company, which had just raised $75 million in late March and over $110 million total from investors like General Catalyst, announced the cuts to implement structural changes and align with an evolving business model amid a sharp market reversal. This move was part of a broader trend of layoffs across Indian startups, as global tech stock declines led investors to slow funding. CityMall, which partners with thousands of micro-entrepreneurs across about 30 cities, described the decision as one of its toughest, offering support to affected staff.
Related Events
More Retail Layoffs
Report an Error
If you find incorrect information, please let us know so we can correct it.
support@layoffs.nl