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.