Indiabulls-run social commerce platform Yaari lays off 150 workers
- ByStartupStory | June 1, 2022
Conglomerate Indiabulls’ social commerce platform Yaari has recently laid off 150 workers which is approximately 60% of its total workforce. The lay-off occurred in the last week of April across business development,supply support, customer support and marketing verticals.
The company did not offer any kind of severance package or benefits to employees impacted by the round of lay-off. Yaari is expected to merge with Dhani,an e-commerce platform, which is also a Indiabull backed up company.
Yaari,a social commerce marketplace for customized consumer products specialises in providing young entrepreneurs, especially women, a platform and assistance to start an online business at home. It helps them manage inventory, payments and track and organise orders
Yaari digital integrated service launched this social commerce marketplace in March, last year, enabling the resellers, small businesses to adapt to the online platform through Facebook, Instagram,WhatsApp etc.
The layoffs are the result of macro-economic factors like high inflation, war , lockdowns, high interest rates that are prevalent globally. Reportedly, over 8,000 employees of startups have lost their jobs led by ed-tech companies in India. And the situation is expected to get worse due to the looming recession and funding winter.
Follow Startup Story
Related Posts
