Meesho, a social commerce platform, has laid off 251 employees or 15 percent of the workforce, in order to achieve sustained profitability.
Meesho said it is committed to ensuring all those impacted “have our full support and will be provided a separation package that includes a one-time severance payment of 2.5 to 9 months (depending on tenor and designation), continued insurance benefits, job placement support and accelerated vesting of ESOPs.
Meesho last year shut down its grocery business called Superstore in more than 90 percent of cities in India, resulting in several job losses. Nearly 300 employees lost jobs after the shuttering of Meesho Superstore, according to reports.
Meesho had rebranded Farmiso to Superstore, with an aim to highlight its focus to fulfill consumer demand for daily essentials in Tier 2 markets and beyond.
Meesho Superstore was operational in Karnataka, Telangana, Andhra Pradesh, Gujarat, Madhya Pradesh and Maharashtra.