TinyOwl wasn’t so tiny when it boasted of a 1000+ employees back in September. However, in another round of bad news coming in from the food tech startup world, the food ordering app is set to lay off another 100 employees, its CEO Harshwardhan Mandad has told the Economic Times. The staff cut will primarily be in sales teams in Delhi, Hyderabad, Chennai and Pune.
This will be the second round of mass layoffs in the company as back in September, the company had given the pink slip to 200 odd employees.
TinyOwl that boasted of around 1000+ employees is on a major restructuring plan to concentrate on improving margins and streamlining revenue. The company has openly spoken about the difficult decision on its blogpost titled “Some difficult decisions towards the big dream”
“….As part of this process, we have restructured the organization to increase the organization’s efficiency and productivity, involving eliminations of certain positions from the company. It indeed was a very difficult step for us. But I believe some difficult steps need to be taken for the best interests of the company and to stay true to its vision in the longer run. As part of our efforts towards refurbishing the brand in the current scenario, our focus is to optimize our current resources and move towards a better ecosystem of business management, with a strong and robust backend. This development, however unfortunate, is a step towards sustainability and growth…”
TinyOwl had raised Rs 100 crore in a funding, and counts Snapdeal founders Kunal Bahl and Rohit Bansal as investors.
TinyOwl was founded in 2014 by IIT-Bombay graduates Mandad, Gaurav Choudhary, Saurabh Goyal, Shikhar Paliwal and Tanuj Khandelwal.