Bangalore based Commonfloor which was acquired by Quikr, has laid off more than 100 employees.
The employees were informed via email that there were no positions open in Quikr and they should pursue opportunities outside and that it would be the official notification for commencement of notice period.
CommonFloor is also vacating its current office space and will be soon be moving to Quikr’s premises.
Quikr had acquired Commonfloor for $200mn and had asserted that there will be no layoffs.[source]