ShareChat Layoffs

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ShareChat, a vernacular social media platform, is laying off approximately 5% of its workforce as part of its annual performance review cycle, affecting around 26-28 employees out of a total of 530-550. This marks the company's second round of layoffs in six months, following a similar 5% reduction in August 2024. Despite these cuts, the company's CFO stated that this is a routine bar-raising process to replace underperformers, not a cost-cutting exercise, and that ShareChat is actively hiring for key roles. The firm, which has raised about $1.3 billion from investors, reported improved financials with reduced losses and is nearing overall profitability. The layoffs reflect ongoing adjustments in the competitive social media industry.

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