India’s Cars24 cuts 600 jobs

Cars24, a marketplace for used cars, has laid off about 600 people just five months after closing a $400 million financing round, the latest Indian unicorn to cut its workforce as it attempts to steer through the gloomy market conditions.
The Cars24 layoff, which represents about 6% of the startup’s workforce, affects staff across multiple divisions, a person familiar with the matter said.
A spokesperson for Cars24, a “Series G” startup valued at $3.3 billion, insisted in a statement that the move was “business as usual.”
Cars24 has raised over $1 billion in debt and equity financi

リンク元