According to an ET report, Bizongo has laid off approximately 15% of its workforce, or approximately 50 employees. This is the company’s official second round of layoffs in the last three years. It had laid off approximately 160 employees as of June 2020. However, there were reports of layoffs in early 2023, though the precise number of employees affected is unknown. The company made no comments on the previous layoffs.
Bizongo, an e-commerce-focused packaging company, has decided to lay off some of its employees just days after announcing a successful $50 million funding round.
The company is now focusing its efforts on its core business goals.The spokesperson emphasised that letting go of employees is always a difficult decision, and the company is fully committed to providing the best possible support to those affected.
The eight-year-old platform provides enterprise clients with a variety of services such as digital vendor management, supply chain automation, and supply-chain financing. Bizongo serves enterprise customers in a variety of industries, including fashion and lifestyle, pharmaceuticals, consumer discretionary, and consumer staples. According to the company, steel and aluminium account for more than half of the raw materials purchased by SME vendors through its platform.