FarEye Layoffs

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New Delhi-based SaaS logistics startup FarEye has laid off approximately 250 employees this week, impacting staff across its global offices in India, North America, and Europe. The layoffs, which affected around one-third of its workforce of over 750, were attributed to organizational restructuring amid softening market conditions. Employees from various departments, including product, engineering, sales, and talent acquisition, were informed individually and asked to leave promptly, though the company committed to providing two months' salary as severance. This move comes nearly a year after FarEye raised $100 million in a Series E funding round, reflecting broader challenges in the startup ecosystem where Indian companies have seen significant workforce reductions in 2022.

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