ShareChat Layoffs
May 2020
ShareChat announced a layoff affecting 101 employees (25% of its workforce) in May 2020. The company operates in the Marketing sector.
101
25%
May 20, 2020
About
ShareChat, a Bengaluru-based regional social media startup backed by Twitter, laid off 101 employees on May 20, 2020, representing about 25% of its workforce. The company cited an unpredictable advertising market severely impacted by the COVID-19 pandemic as the primary reason. Having only begun monetizing through ads in October 2019, ShareChat stated it needed to refocus on its core product and fundamental growth levers to sustain the business. The affected employees were offered support, including a "garden leave" option and professional resume-building assistance.
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