Porter reports 350 layoffs, company explains decision

Bengaluru-based on-demand logistics platform Porter has announced layoffs. The company stated that it had to make the decision to reduce its costs to rationalize its workforce. However, the company has not officially disclosed the number of employees laid off. Sources familiar with the matter say the company has cut approximately 300-350 positions ahead of its public company acquisition.

In a statement on Tuesday, Porter said, “We are undergoing a transformation that required a comprehensive restructuring. The objective is to create a stronger, more agile, and financially resilient organization for the future. During this journey, we have had to make some difficult decisions that have impacted our employees. These decisions were not easy and were made after careful consideration.”

Media reports in September indicated that Porter was in the final stages of securing $100-110 million in funding from existing and new investors. This would bring the total investment in the company to approximately $300-310 million.

In May, Porter raised $200 million from private equity firms Kedaara Capital and Wellington Management, valuing the company at $1.2 billion. Founded in 2014 by Pranav Goyal, Uttam Digga, and Vikas Chaudhary, Porter provides intra-city logistics and courier services. Porter’s operating revenue grew 57% to ₹4,306 crore in FY25, and it became profitable. The company achieved a net profit of ₹55 crore this year, compared to a loss of ₹96 crore in FY24.