Business-to-business (B2B) industrial goods marketplace unicorn Moglix has become the latest Indian startup to layoff employees amid the funding winter, sacking 40 employees.
According to sources, the ecommerce unicorn may have fired up to 200 employees, or roughly 15% of its workforce. However, Moglix stated in an official statement that only 40 employees, or 2-3% of its workforce, were affected by an annual performance review. According to reports, the layoffs could affect 200 employees, or 15% of Moglix's workforce. According to Inc42's 'Indian Startup Layoff Tracker,' more than 18,000 employees will be laid off in 2022 as a result of the funding freeze.