Subscription-based grocery provider Otipy shuts shop; impacts 300 employees

Share via:


Subscription-based grocery provider Otipy shut operations last week, impacting around 300 employees in addition to gig workers, including delivery partners, said people aware of the development. Founder and CEO Varun Khurana is understood to have told the company’s employees about the decision last week at a townhall meeting.

The WestBridge Capital-backed startup has reportedly withheld salary payments to employees as well as delayed payments to vendors.

This development comes amid a downturn for grocery subscription services, which have struggled…



Source link

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.

Popular

More Like this

Subscription-based grocery provider Otipy shuts shop; impacts 300 employees


Subscription-based grocery provider Otipy shut operations last week, impacting around 300 employees in addition to gig workers, including delivery partners, said people aware of the development. Founder and CEO Varun Khurana is understood to have told the company’s employees about the decision last week at a townhall meeting.

The WestBridge Capital-backed startup has reportedly withheld salary payments to employees as well as delayed payments to vendors.

This development comes amid a downturn for grocery subscription services, which have struggled…



Source link

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.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Supply chain firm Allcargo Gati joins ONDC Network

Express distribution and supply chain firm Allcargo Gati...

Zoox launches its first robotaxi production facility, taking on...

Amazon's Zoox has opened its first robotaxi serial...

Metal 4: Two new features that will make a...

Apple’s relationship with gaming on the Mac has...

Popular

Upcoming Events

bbsfbb asdsdfasda asdasdfsda asdasdfsda asdasdfsda asdasdfsda asdasdfsda asdasdfsda