Chingari: Chingari joins the list of Indian startups to lay off employees – Times of India
Chingari is the latest Indian startup to cut jobs. The layoffs have impacted close to 20% workforce in the organisation. The company has sacked employees as a part of organisational restructuring. The company’s spokesperson, in a statement to news agency IANS, said that it was “one of the toughest decisions for our management and we understand the impact they have on our employees”.
As per sources, Chinagri currently employs around 248 people, and if the company has reduced 20% of its workforce, then approximately 48 jobs will be eliminated.
“We deeply regret the need for these workforce reductions of 20% as a part of Chingari’s organisational restructuring. These were one of the toughest decisions for our management and we understand the impact they have on our employees. We are appreciative of their contributions and commitment to Chingari,” the company said.
The layoffs come after the company’s co-founder Aditya Kothari exited the firm. In order to compensate for the layoffs, the company said that it will support impacted employees by providing all-encompassing support, such as career counselling and job placement assistance, the report added.
“We are recognising the contribution and dedication of the affected employees by offering a severance package equal to two months’ salary to assist them during this transition,” said the spokesperson. Additionally, “we will make sure they have three more months of health insurance coverage”.
As per data from last year, Chingari had more than 160 million users in over 15 languages. Further, it garnered more than 5 million daily active users (DAU) and 40 million monthly active users (MAU). In addition to this, Chingari’s crypto token GARI powers India’s only blockchain-based social infotainment platform.
Meanwhile, in October 2021, the India-based startup company raised over $19 million for its token round across more than 30 venture funds and individual investors.
As per sources, Chinagri currently employs around 248 people, and if the company has reduced 20% of its workforce, then approximately 48 jobs will be eliminated.
“We deeply regret the need for these workforce reductions of 20% as a part of Chingari’s organisational restructuring. These were one of the toughest decisions for our management and we understand the impact they have on our employees. We are appreciative of their contributions and commitment to Chingari,” the company said.
The layoffs come after the company’s co-founder Aditya Kothari exited the firm. In order to compensate for the layoffs, the company said that it will support impacted employees by providing all-encompassing support, such as career counselling and job placement assistance, the report added.
“We are recognising the contribution and dedication of the affected employees by offering a severance package equal to two months’ salary to assist them during this transition,” said the spokesperson. Additionally, “we will make sure they have three more months of health insurance coverage”.
As per data from last year, Chingari had more than 160 million users in over 15 languages. Further, it garnered more than 5 million daily active users (DAU) and 40 million monthly active users (MAU). In addition to this, Chingari’s crypto token GARI powers India’s only blockchain-based social infotainment platform.
Meanwhile, in October 2021, the India-based startup company raised over $19 million for its token round across more than 30 venture funds and individual investors.
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