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Quikr Lays Off More Than 100 Employees From Recently Acquired CommonFloor

by Chinmay Bidkar
March 14, 2016
in Business, News
Reading Time: 1 min read
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Quikr Lays Off More Than 100 Employees From Recently Acquired CommonFloor
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14th March 2016, Bangalore : CommonFloor, the online real estate portal which is a recent acquisition of Quikr has cut off around 150 of its employees. CommonFloor had around 650 employees.

According to one employee who has already exited CommonFloor, the process to find suitable roles began soon after the acquisition. They said that Quikr has a full-fledged team and did not want to absorb new people for the same roles.

Lalit Mangal, Co-Founder and Chief Technology Officer, CommonFloor said, “A good percentage of Employees have been absorbed into various roles.”

An Automated termination mail was sent on Friday evening and it stated ‘to look out for career opportunities outside the company’. CommonFloor’s Bangalore office in Diamond District will be shutdown within a month’s time according to a source.

Quikr commenced the new year acquiring CommonFloor for $200 million which raised a few eye-brows as CommonFloor was valued at around $150 million

Tags: BangaloreCommonFloorLayoffsOnline real estateQuikrreal estate
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Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

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