layoff tsunami dunzo delays salaries; ceo warns of layoffs
Last updated on September 26th, 2023 at 07:01 am
Dunzo, an Indian startup, has been delaying salaries of its employees. Dunzo co-founder and chief executive officer (CEO), Kabeer Biswas, has also warned of another round of layoffs. Many employees will also have to vacate their office places.
What happened between Dunzo CEO and Dunzo employees? Who all are at risk? Will the workers receive their salaries? What workers can expect?
Dunzo employees have not received their salaries for the months of June, July, and August. Dunzo co-founder and chief executive officer said that the employees would receive their salaries by November.
Kabeer Biswas also held an internal meeting with employees on Friday (September 15). He discussed the company’s situation with them. During the meeting, the CEO told the employees that their salaries for the month of September would be credited by October. However, he told them to wait till November to receive their salaries for the months of June, July, and August.
Dunzo will layoff employees in the coming weeks. During the meeting on Friday, the Dunzo CEO warned employees of another round of layoffs if the company fails to manage its cash flow situation.
Dunzo has also been delaying salaries because of the worsening cash flow situation. The Reliance Retail-backed Indian startup will also vacate its current headquarters in Bengaluru in cost cutting efforts.
A senior employee told Moneycontrol, “We were told that Dunzo was looking to give up its office space 2-3 months back because there were hardly any people working from the office.”
According to Dunzo employees, the company may ask employees to work from home (WFH) in order to find solutions for its worsening cash flow situation.
Previously, in a cost-cutting measure, Dunzo laid off employees in three rounds of layoffs. Gripped by a funding crisis, employees must be ready for another round of layoffs because the company has other payments to make.
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