#Asia SAIF-backed used-car marketplace Gozoomo fires 130 employees

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The massive layoff affected people working in the data collection and on-boarding departments in all cities

 layoff

After the massive lay-off at Housing.com, Zomato, TinyOwl and foodpanda hit the headlines last year, another Indian startup has fired employees in large numbers.

Gozoomo, an online marketplace for used cars which operates under the brand name Zoomo, has reduced its workforce by over 35 per cent or sacked 130 employees in December, according to a report by Yourstory.com.

“Restructuring was a strategic decision. We iterated with four different business models over the past two quarters. Some were operation-intensive, others product-focussed. Currently, product innovation is a major focus and, consequently, we stopped some manual processes that won’t scale well,” Co-founder Arnav Kumar told the publication.

Also Read: Cut out the broker and Zoom(o) to the pre-owed car of your choice

The massive layoff was effected across the data collection and on-boarding departments in all cities. The company said there were no layoffs in other department and functions.

The startup claims that 60 per cent of the laid-off employees have been outplaced. “Everyone was financially secured through two months’ advance severance and continued health insurance,” added Kumar.

Also Read: Amid tough market conditions, foodpanda lays off 330 employees in India

Launched in December 2014, Gozoomo has raised a total of US$6 million in funding from SAIF Partners. The company claims to have facilitated over 2,500 transactions on the platform in 2015 alone.

The year of 2015 saw a number of startups tightening their purse strings or restructuring their business, most of which are in the consumer Internet domain.

The post SAIF-backed used-car marketplace Gozoomo fires 130 employees appeared first on e27.

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