Meesho Layoffs
May 2023
Meesho announced a layoff affecting 251 employees (15% of its workforce) in May 2023. The company operates in the Retail sector.
251
15%
May 5, 2023
About
In May 2023, Indian e-commerce unicorn Meesho announced its second round of layoffs in just over a year, letting go of 251 employees, which represents approximately 15% of its workforce. CEO Vidit Aatrey communicated the decision via email, citing a challenging macroeconomic environment and admitting to judgment errors in over-hiring ahead of the curve. He noted the company's organizational structure had become inflated, affecting execution speed, and stated the need to align people costs with new business projections. This round marks the first job cuts within Meesho's core marketplace model, following a previous reduction of 250 employees from its grocery arm in 2022. The Bengaluru-based startup, valued at $4.9 billion and backed by investors like SoftBank and Sequoia, is among the new-age companies adjusting to a tougher funding climate.
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