ShareChat Layoffs

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ShareChat, operated by parent company Mohalla Tech, has laid off approximately 200 employees, representing 15% of its workforce, in a strategic restructuring announced in December 2023. This move is part of the company's annual planning for 2024, aimed at streamlining costs and achieving profitability within the next 4-6 quarters. The Indian social media unicorn, which includes platforms like ShareChat and Moj, had previously cut 500 jobs in January 2023 due to macroeconomic pressures. Despite raising significant funding, including $255 million in 2022 at a $5 billion valuation, ShareChat faces challenges with growing losses and is seeking additional capital at a reduced valuation. The layoffs reflect ongoing efforts to optimize operations in a competitive digital content industry.

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