Delhi, India: In light of the stringent allocation of investor capital, a number of startups are also laying off employees at Livspace, joining the ranks of those companies.
The company stated in a statement that the layoffs have affected less than 2% of its workforce, or roughly 100 people, which is more than 5,000 people. The majority of the workforce of the omni-channel home interior and renovation platform based in Singapore, which was founded by Anuj Srivastava and Ramakant Sharma, operates in India, Malaysia, and Saudi Arabia.
The company stated that it is taking all necessary measures to ensure a smooth transition for the employees affected. It is, whenever possible, providing them with assistance packages, extended medical insurance, and relocation services.