Delhi and UK-based online fashion marketplace Koovs has reportedly laid off 50% of its staff, amounting to 140 employees.
As per an ET report, the downsizing has affected employees from buying, merchandising & marketing teams. Mary Turner, CEO of Koovs, said that the company has refinanced and refocused its business priority, under which it decided to streamline some of its operations.
The development comes a few months after Koovs had sold some of its operations and assets to its largest creditor SGIK 3 Investment in order to keep the company afloat.
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