CityMall Layoffs

About

CityMall, a social commerce startup based in Gurugram, laid off approximately 90 employees on October 16 as part of a cost-cutting initiative directed by its investors. This marks the company's second significant round of layoffs in 16 months, following the termination of about 191 employees in June 2022. The recent cuts affected nearly all departments, with the startup offering severance pay equivalent to one month's salary. Operating in the e-commerce industry, CityMall focuses on delivering grocery, FMCG, electronics, and fashion products to consumers in Tier III and IV cities. Despite raising a total of $112 million from investors like Norwest Venture Partners and Elevation Capital, the company has faced internal challenges, including frequent top management changes and office relocations, contributing to this restructuring effort.

Source

Related Events

More Retail Layoffs