RetailIN

Meesho Layoffs

April 2022

Meesho announced a layoff affecting 150 employees in April 2022. The company operates in the Retail sector.

People Affected

150

Announced Date

Apr 11, 2022

About

Ecommerce unicorn Meesho, backed by SoftBank and valued at $4.9 billion, has laid off 150 full-time employees as part of a restructuring of its Meesho Superstore grocery delivery service. This move, occurring in early 2022, follows the company's massive $870 million fundraise in 2021, which included a $570 million round in September aimed at expanding the grocery business. The layoffs are attributed to scaling back after rapid pandemic-era growth and removing redundancies to boost efficiency, with the company emphasizing that its core marketplace business remains unaffected and continues to hire. Meesho, which serves millions of entrepreneurs and customers, reported significant revenue growth but also saw losses increase, prompting this adjustment to streamline operations.