Layoffs: Layoffs in B2B e-commerce platform Udaan, reports claim – 150 employees laid off

B2B e-commerce platform and unicorn startup Udaan has laid off around 150 of its employees. The company has made this layoff after securing funding of $340 million. It is being told that the company will use its recent funding to strengthen the supply chain and improve partnerships with vendors.

According to media reports, the decision to lay off the flight has been taken due to fundamental changes in the company’s operations. The report quoting sources claimed that the number of employees laid off could be more than 150. The recent restructuring move at Udaan is expected to impact employees across all roles and divisions of the company.

Udaan has reportedly decided to decentralize operations. The report quoted a source as saying that earlier the FMCG team used to work at the all India level, but now its operations will be cluster wise. Different teams for different groups will look after all the categories.

In November last year, Udaan had laid off 10 per cent of its employees after raising convertible notes worth $120 million. It laid off 500 employees in two rounds of layoffs in June and November of 2022.

The company is targeting its initial public offering (IPO) in 2025. According to Vaibhav Gupta, co-founder and CEO of Udaan, their recent funding will enable their business plans and will position the company well to be public-market ready in the next 12-18 months. Udaan was founded in 2016 by three IIT alumni, Amod Malviya, Sujit Kumar and Vaibhav Gupta, all of whom also worked at Flipkart.