The Gurugram-based Social commerce CityMall is slashing 191 jobs as it looks to better navigate the sharp reversal in the markets.
The layoff impacts at least 30% of the three-year-old startup’s workforce. The startup said two months ago that it had over 500 employees.
The Company said on Layoffs, “191 of our employees will be parting with us due to structural changes across functions at CityMall. After exploring multiple options, we’ve realised that there’re certain roles within the company which had to be dissolved to align to our evolving business model and the current business environment.”
“We will be providing outplacement assistance to all the employees who will be moving out of the company. Each & every employee affected by this layoff has contributed to building Citymall to what it is today, and this is one of the toughest decisions the company has ever had to make,” the company added.
CityMall further said, “We have built a highly capable team at Citymall, and we’d be happy to share details of affected employees with companies that are hiring.”
Company in the month of March this year had raised $75 million and is a community commerce platform backed by investors like General Catalyst, Elevation, Accel, and Waterbridge.
CityMall works with over 30 000 micro-entrepreneurs to power its e-commerce engine in about 30 Indian cities. Also, it has shut down its operations in Noida and is likely to shut down its warehouse in Jaipur as the warehouse was running in losses.
The startup has to shut it down once the inventory is cleared and also shut down its two dark stores that were being piloted for one-day delivery in Rohtak and Gurugram.
CityMall is a highly efficient channel to serve these consumers through “Community Leaders”. They are the “Social” & “Geographical” connectors between end consumers and CityMall. They help it in customer acquisition, localised sales & marketing to capture customers’ share of wallet, and the last mile logistics in their communities, thus making the community-led model more suitable for small towns, cities, and villages.
80% of its consumers transact for the very first time on CityMall’s app. CityMall is enabling thousands of people to start their small businesses without any investment.
Founded by IIT Delhi and IIT Roorkee alumni with 8+ years of entrepreneurial experience, CityMall aims to create hundreds of thousands of such micro-entrepreneurs and empower them to create the go-to e-commerce platform for Bharat.
