SoftBank-backed Meesho lays off 251 employees

SoftBank-backed Meesho has fired 251 employees, which is nearly 15% of its workforce, as part of its efforts to achieve profitability, the company told its employees in a town hall meeting on May 5. This is the second layoff for the Bengaluru-based startup within a year. In August 2022, the firm shut down its grocery business Farmiso and integrated it into the core app of Meesho. In this process, nearly 300 employees were laid off as per media reports.

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