Quick commerce platform Dunzo has decided to postpone 50% of the salary for certain employees in manager-level positions and above, as per media reports.
This comes three months after the Google and Reliance-backed startup laid off 30% of its workforce, affecting nearly 300 people. In January, the firm let go of 3% of its workforce, citing efforts to build efficiency into its teams.
The platform was also in the process of shutting down some of its dark stores in Delhi-NCR and other regions. Entrackr exclusively reported this in November last year.
Dunzo, which competes with the likes of Blinkit and Zepto, has been making efforts to trim costs to extend its runway. Media reports also suggested that the firm may cut more jobs in the coming weeks.
It’s worth noting that Dunzo raised $240 million in a round led by Reliance Retail in January last year. The hyperlocal quick delivery startup burned (EBITDA loss) over Rs 176 crore in June 2022. The latest numbers couldn’t be ascertained.
While the company is yet to disclose its financials for FY23, it recorded Rs 54.3 crore in revenue from operations in FY22 from Rs 25.1 crore in FY21. As per Fintrackr’s analysis, the company’s losses also deepened at a similar pace to Rs 464 crore in FY22 against Rs 229 crore in the previous year.