Gold loan provider Rupeek laid off approximately 50 employees across departments on Wednesday (September 7) as part of its plans to become profitable within the next 12-18 months.
This is the company’s second round of layoffs. It is based in Bengaluru. It laid off approximately 180 employees in June of this year. According to people familiar with the situation, the startup’s management informed employees of the decision to reduce the workforce on Wednesday. So far in 2022, Rupeek has laid off approximately 230 employees. In June, a company spokesperson cited a “subdued macroeconomic environment” as the reason for the layoffs.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.
Gold loan provider Rupeek laid off approximately 50 employees across departments on Wednesday (September 7) as part of its plans to become profitable within the next 12-18 months.
This is the company’s second round of layoffs. It is based in Bengaluru. It laid off approximately 180 employees in June of this year. According to people familiar with the situation, the startup’s management informed employees of the decision to reduce the workforce on Wednesday. So far in 2022, Rupeek has laid off approximately 230 employees. In June, a company spokesperson cited a “subdued macroeconomic environment” as the reason for the layoffs.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.
