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Cars24 to Vedantu, start-up lay-offs accelerate on capital crunch worries

Falling valuations, slowing funding rounds add to woes; move aimed at conserving cash and shore up profitability

Topics
Cars24 | lay-offs | Start-ups

Peerzada Abrar  |  Bengaluru 

lay-offs
Cars24 is just one among a growing list of start-ups like Vedantu, Unacademy and Meesho and others, which have fired employees recently.

Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know.

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First Published: Fri, May 20 2022. 06:03 IST
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