TinyOwl lay off about 200 employees in September, many of them from its sales and delivery teams. The latest staff cuts will primarily be in sales teams in Delhi, Hyderabad, Chennai and Pune.
TinyOwl, online food-ordering start-up has decided to lay off another 112 employee sits second round of staff cuts in two months as part of a restructuring aimed at reducing expenses, said cofounder and chief executive Harshvardhan Mandad.
TinyOwl lay off about 200 employees in September, many of them from its sales and delivery teams. The latest staff cuts will primarily be in sales teams in Delhi, Hyderabad, Chennai and Pune, reported ET.
Several food start-ups, facing a slowing fundraising market are looking to cut expenses and focus on building sustainable businesses.
"It was a tough decision," said Mandad. "Going forward, our operations will have to be more tech-oriented because margins are thin in the food business as compared to other online marketplaces."
After the latest layoffs, TinyOwl expects its total employee count to drop from around 1,000 earlier this year to around 650.
The company said it is also piloting a new operational structure in Mumbai and Bengaluru, where it is making processing of orders and delivery more automatic.
Matrix Partners India and Sequoia Capital, existing investors recently pumped in Rs 50 crore in TinyOwl as it works on streamlining operations.
The company in February raised Rs 100 crore in a funding round led by Matrix Partners, with Sequoia Capital and Nexus Venture Partners participating.