Social media platform ShareChat, owned by Mohalla Tech, has cut 200 jobs, about 15% of its workforce, as part of strategic restructuring. Mohalla Tech aims to streamline its cost base and achieve profitability within the next 4-6 quarters. The parent company saw losses increase by over 38% to Rs 4,064 crore in FY23, while revenue from operations rose by 62% to Rs 540.21 crore.
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ShareChat cuts 200 jobs, company terms it “streamlining cost base”
Social media platform ShareChat, owned by Mohalla Tech, has cut 200 jobs, about 15% of its workforce, as part of strategic restructuring. Mohalla Tech aims to streamline its cost base and achieve profitability within the next 4-6 quarters. The parent company saw losses increase by over 38% to Rs 4,064 crore in FY23, while revenue from operations rose by 62% to Rs 540.21 crore.
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.
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