Indian company Dansu lays off more employees. 30 percent employees are exempted. Dunsu is a company that distributes condiments and other essential products. The announcement of 30 per cent layoffs could affect engineering roles at the company. Job losses will be widespread in engineering roles, with software engineers, architects and director-level jobs likely to be lost. This development informed the dismissed employees together with their managers. Hyperlocal grocery delivery company Dansu is cutting staff for the second time this year. In January this year, the company laid off three percent of its employees as part of a cost-cutting drive.
According to regulatory filings, the company’s loss for fiscal 2022 was Rs 464 crore. This is double the loss incurred in FY2021. In the last financial year, the loss was Rs 229 crore. The startup’s total expenditure in FY2022 was Rs 531.7 crore and operating income was Rs 54.3 crore. Dansu is working with the support of Google and Reliance. Google’s stake in the company is about 20 percent while Reliance has 25.8 percent stake.
According to regulatory filings, the company’s loss for fiscal 2022 was Rs 464 crore. This is double the loss incurred in FY2021. In the last financial year, the loss was Rs 229 crore. The startup’s total expenditure in FY2022 was Rs 531.7 crore and operating income was Rs 54.3 crore. Dansu is working with the support of Google and Reliance. Google’s stake in the company is about 20 percent while Reliance has 25.8 percent stake.
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Companies are now laying off employees and reducing employee stock as part of cost-cutting measures. Amazon has already laid off many employees. Plans to reduce employee stock incentives have been announced to further cut costs.
It is implied that the restricted stock units will be reduced to a small amount. This is temporary.
Amazon’s announcement of a second round of layoffs reflects the impact of job losses that have hit the technology sector due to the economic downturn. In the first phase, the company had decided to lay off 18,000 employees. 9,000 employees will be cut in the second phase in March.
