Grocery delivery platform Dunzo has cut its workforce by 30 percent, meaning close to 300 employees have been laid off and the firm has also secured funding worth $75 million, sources told CNBC-TV18 on April 6. Both the moves shall help the delivery platform turn profitable before its initial public offering (IPO) in 2025.
Dunzo informed its employees about the layoffs in a townhall on April 5 and said that the company was looking at a pivot in business strategy to achieve profitability ahead of planned IPO.
It must be noted that earlier in January, Dunzo founder Kabeer Biswas had told CNBC-TV18 that his firm was looking at organisational changes and re-organisation that could affect employees.
The company has also secured a funding of $75 mn through convertible notes with existing investors, Google and Reliance Industries likely to be among investors, sources said.
