InvestorQ : Why are start ups like Liv Space and Uber also laying off employees in large numbers?
Aditi Sharma made post

Why are start ups like Liv Space and Uber also laying off employees in large numbers?

Answer
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Aashna Tripathi answered.
4 months ago


Suddenly, start ups across India are in trouble as their businesses were just not cut out take on such black swan events. Livs Space, which is home design and renovation is laying 450 employees while Uber is laying off 600 in India. Earlier, WeWork also laid off over 100 employees. Even the likes of Oyo have been laying off people left right and centre. Livspace uses algorithms to match homeowners with designers (based on style preferences, budget, scope of work and timelines). The one segment that is worst hit by the pandemic is the discretionary purchase sector and that has hit all these start up businesses. For Livspace, the lay-offs represent 15% of their workforce. However, in case of Livspace, the employees are likely to get a bad deal and as time goes by, such exit handshake packages could just get less attractive by the day.