Business Standard

Urban Ladder cuts jobs, aims to be operationally profitable in June quarter

In 2017-18, the company's losses stood at around Rs 118.66 crore, by cutting down on the expenses almost by half at Rs 232.73 crore

"We had a plan to reduce losses  by 70 per cent in FY19, but it looks  like we are slightly behind target. We are taking some hard  decisions in the long-term  interests of the company," says CEO Ashish Goel
Premium

"We had a plan to reduce losses by 70 per cent in FY19, but it looks like we are slightly behind target. We are taking some hard decisions in the long-term interests of the company," says CEO Ashish Goel

Romita MajumdarBibhu Ranjan Mishra Mumbai/Bengaluru
Online furniture store Urban Ladder is said to have laid off close to 90 employees over the past few days, as it aims to trim losses to climb up the profitability rung.

The Bengaluru-based company, which had earlier announced to go for an initial public offering (IPO) in 2020-21 (FY21), aims to become operationally profitable in the April-June quarter and maintain that on a full-year basis in 2019-20 (FY20). 

Ashish Goel, co-founder and chief executive officer, did confirm to Business Standard that the company has taken some tough decisions, including retrenchment of people. He did not divulge the number of

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 27 2019 | 1:16 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com