Chingari Implements Workforce Reductions through Organizational Restructuring
- ByStartupStory | June 20, 2023
Chingari, the homegrown short-video making platform, has made the difficult decision to lay off 20 percent of its workforce as part of an organizational restructuring. The move aims to streamline processes and align resources with long-term growth goals. The company spokesperson acknowledged the impact on employees, stating, “We are recognizing the contribution and dedication of the affected employees by offering a severance package equal to two months’ salary to assist them during this transition.”
To support the impacted employees during this challenging period, Chingari is providing comprehensive assistance, including career counseling, job placement support, and three months of continued health insurance coverage. The company remains committed to optimizing productivity and sustaining its position as one of the leading Indian short video apps.
The layoffs come in the wake of co-founder Aditya Kothari’s recent departure from the startup. Chingari has been a prominent player in the industry, boasting over 160 million users across more than 15 languages, with 5 million daily active users (DAU) and 40 million monthly active users (MAU).
Chingari’s success extends beyond its user base, as its crypto token GARI powers India’s only blockchain-based social infotainment platform. In October 2021, the company raised over $19 million in a token round from a diverse group of venture funds and individual investors, including Republic Crypto, Galaxy Digital, Alameda Research, Solana Capital, and many others.
While the decision to implement workforce reductions is undoubtedly challenging, Chingari remains committed to its vision and is taking necessary steps to ensure long-term sustainability and growth in the competitive short-video market.
Quote from Company Spokesperson: “This was one of the toughest decisions for our management, and we understand the impact they have on our employees. We are recognizing the contribution and dedication of the affected employees by offering a severance package equal to two months’ salary to assist them during this transition. Our priorities continue to be streamlining processes, boosting productivity, and matching resources to our long-term growth goals.”
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