Apartment management software provider MyGate laid-off 30% staff: Report
MyGate, a company that makes apartment management software, has cut off close to 30% of its staff. It is the most recent corporation to make layoffs in the midst of the current global slump.
According to sources, the decision made by the Bengaluru-based firm would mostly impact mid-manager level and junior-level workers from ground operations, community involvement, and other verticals.
Similar percentages of staff were let go by MyGate, which is financed by Tiger Global and Tencent Holdings, in December 2022. MyGate currently employs 400 people in total, down from over 600.
Vijay Arisetty, Shreyans Daga, and Abhishek Kumar launched it in 2016. In 2021, it purchased MyCommunity Genie, a community commerce platform located in Bangalore, in a part-cash, part-equity agreement.
In a recent reorganization effort, the 6,000-person staff of the food and grocery delivery network Swiggy was reduced by 380.
Delivery platform Dunzo fired 3% of its staff due to restructuring. The firm, which employs 3,000 people according to LinkedIn, has let go of about 90 of those workers.
Employees at edtech startup Lead School and cloud kitchen business Rebel Foods were recently let go. Byju’s terminated roughly 1,500 workers in the ed-tech industry.
