According to news reports, swift commerce platform Dunzo has decided to delay 50% of the salary for some employees in manager-level and above positions.
Three months prior, the startup funded by Google and Reliance laid off 30% of its workforce, affecting close to 300 individuals. The company let go 3% of its workforce in January, citing efforts to increase team productivity.
Additionally, the platform was in the process of closing down a few of its dark stores in the Delhi-NCR and other areas.
In order to increase its runway, Dunzo, which rivals companies like Blinkit and Zepto, has been working to reduce costs. According to media reports, the company may eliminate more positions in the upcoming weeks.
Reliance Retail led a $240 million funding round for Dunzo in January of last year, it’s important to note. In June 2022, the startup for hyperlocal quick delivery lost (EBITDA loss) over Rs 176 crore. It was impossible to determine the newest figures.
Although the company has not yet released its financial information for FY23, it increased its operating revenue from FY21’s Rs. 25.1 crore to Rs. 54.3 crore in FY22.
