ConsumerIN

Livspace Layoffs

March 2023

Livspace announced a layoff affecting 100 employees (2% of its workforce) in March 2023. The company operates in the Consumer sector.

People Affected

100

Percentage

Announced Date

Mar 17, 2023

About

Home renovation and interiors unicorn Livspace laid off over 100 employees, representing about 2% of its workforce, on March 17 as part of a cost-cutting exercise to extend its runway amid a challenging funding environment. The layoffs primarily impacted product, engineering, content, and marketing teams. While sources claimed affected employees were not offered severance, the company stated it provided an assistance package, extended medical insurance, and outplacement support. Livspace, which reported a significant loss in FY22, aims to achieve profitability in the coming year while focusing on efficient capital deployment.