Yaari, the social commerce platform of conglomerate Indiabulls NSE -4.19 percent, has allegedly let off around 150 people, or 60 percent of its workforce, in the latest round of layoffs in the financing winter.
Yaari is going to be combined with another Indiabulls-backed firm named ‘Dhani,’ which is an e-Commerce platform, according to a report on the main startup news coverage web Inc42.
The layoffs apparently happened in the latter week of April across supplier support, customer service, business development, and marketing sectors, with no severance compensation or health benefits purportedly offered to employees affected by the wave of layoffs.
Yaari is a social commerce platform for personalizing consumer goods.
Yaari Digital Integrated Services developed the social commerce marketplace in March of last year to help small businesses and resellers start their enterprises online using social media platforms like WhatsApp, Facebook, and Instagram, among others.
