It looks like companies taking part in a purge and letting go of scores of employees is not going to slow down any time soon with another start-up company has now joined the list of laying off their workers. This time Udaan announced that the company has chosen to let go off 180 of their employees. The 180 employees constitute around 5% of the total work force of the start-up company. Prior to the purge, the total strength of the of the firm stood an approximate 4000.
A representative of the firm said that the company is undergoing a process of improving the efficiency of its people, reducing costs where ever possible and up the pace of their growth. However, the improved efficiency has made some positions in the firm out dated and no longer required which is why they have been forced to say farewell to many of these people.
However, on the bright side, the efficiency study has caused new roles and positions to be created and opened up which means the company is now on the look out for some great talents in the company who can make a positive impact on the firm.
A few months ago, it was confirmed that the company is looking to get listed some time next year. The company even raised funds amounting to $ 275 million USD in a deal that lasted from October last year to the start of the 2022 fiscal year. At the start of the year, the firm had a valuation of over $ 3 billion USD.
Udaan is a business 2 business trade platform that allows manufacturers, businesses, farmers to sell their products and services to other businesses all across the nation at affordable rates. It has been 6 years since the company was created in 2016 and its head quarters can be located in Bangalore. all types of business can use Udaan’s services and a whole range of products such as fast moving consumer goods, perishables like fruits and vegetables and dairy products, medicines and related products, clothes and fabrics and so many more can all be shipped and purchased through the firm’s platform.
A few months ag, the firm announced that they have crossed the landmark of having 3 million users with over half of them being retailers all around the nation. It seems like Udaan is looking to grow the company fast and be a staple in the business 2 business world.