E-commerce shopping brand Meesho has closed its Grocery store business and Meesho Lays Off 300 Employees d . With the exception of Nagpur and Mysuru, more than 90% of Indian towns have shuttered the company, known as Superstore, which has led to the loss of many jobs.
Let’s have a look at the in-depth details about Meesho lays off 300 employees:
According to a report by Inc42 that cited sources, the Superstore shutdown led to the dismissal of 300 staff in several Indian locations. Last week, the closing was completed. On-roll and off-roll staff, including city launch managers, price team leads, warehouse managers, sales executives, sourcing executives, and market intelligence executives, were among the 300 employees that were let go.
The business hasn’t made any statements about the situation.
Six states, including Karnataka, Telangana, Andhra Pradesh, Gujarat, Madhya Pradesh, and Maharashtra, had Meesho Superstore locations. Meesho changed the name of Farmiso to Superstore in April after financing $570 million the previous year and announcing plans to expand the business into 200 cities.
Farmiso was rebranded as Superstore to emphasise its continued commitment to meeting consumer demand for everyday necessities in Tier 2 markets and beyond, while Meesho had fired 150 employees, mostly from Farmiso in the same month.
200 staff had previously been let go by Meesho during the initial Covid-19 pandemic.
As per the source, Low revenue and a significant cash burn were the two main factors behind the company’s decision to get out of the project and cease operations in the majority of towns. The company was not operating effectively.
They decided to stop operating in the majority of the cities because there was no money coming in. They are spending a great deal of money on this enterprise. Meesho launched their operations haphazardly in six states. Both the logistics and the supply chain had issues.
