FoodAU

Voly Layoffs

June 2022

Voly announced a layoff affecting 0 employees (50% of its workforce) in June 2022. The company operates in the Food sector.

People Affected

Percentage

50%

Announced Date

Jun 22, 2022

About

Australian instant grocery delivery startup Voly has laid off more than half of its head office staff in early June, a severe cutback driven by a challenging funding environment. The company, which operates in the competitive on-demand grocery delivery sector, has also abandoned its 15-minute delivery promise and closed half of its warehouse sites. As a capital-intensive startup in the food retail industry, Voly has been hit hard by rising interest rates, inflation, and a cautious investment climate, making it difficult to secure the substantial funds needed for growth. This reflects a broader downturn in the tech sector, where rapid expansion is no longer sustainable without profitability.