Bangalore-based Commonfloor which was acquired by Quikr, has laid off more than 100 employees. The employees were informed via email that there were no positions open in Quikr and they should pursue opportunities outside and that it would be the official notification for the commencement of notice period. CommonFloor is also vacating its current office space and will be soon be moving to Quikr’s premises. Quikr had acquired Commonfloor for $200mn and had asserted that there will be no layoffs.
Foodpanda has laid off 15% of its staff across verticals, to become ‘sustainable and profitable’. Multiple publications state the number to vary between 300-500 employees. Foodpanda claims that it has reduced manual intervention and hit 98% automation rate in order processing, thus leading to cutting its workforce. Financial Express reports that Foodpanda currently has 2,200 employees including 1,200 delivery personnel. The same report adds that the company’s customer platform won’t be affected due to the layoffs.