B2B ecommerce giant Udaan has laid off 1800 employees as a part of cost cutting amid economic conditions. The Bengaluru-based unicorn has joined the long list of Indian startups terminating the employees to face the market slowdown.
The number of affected employees could go up to 600 professionals, according to a source. The affected 180 employees would be offered medical insurance for self as well as for family (as per current conditions). Moreover, the company is willing to extend a compensation package and support in placements.
Udaan was founded in 2016 by former Flipkart employees Sujeet Kumar, Vaibhav Gupta and Amod Malviya. The firm connects MSMEs, manufacturers, wholesalers, traders and retailers to sell goods and other services.