TinyOwl Lays Off 112 Employees, Total Workforce Will Drop To 650

TinyOwl lays off 112 employees as a part of its restructuring intended to cut costs. This is the second round of layoffs after the company recently cut 200 jobs in September.

Chief Executive, Harshvardhan Mandad told ET that the latest layoffs will largely be in sales teams at Delhi, Hyderabad, Chennai and Pune.

The company will have an employee count of 650, once the layoffs are formally completed—a big drop from the original 1,000 employees it had earlier this year.

“It was a tough decision; going forward, our operations will have to be more tech-oriented because margins are thin in the food business as compared to other online marketplaces,” said Mandad.

The company also added that it is currently testing a new operational structure in Mumbai and Bengaluru. Processing of orders, and delivery operations will be ‘more automated’, it said.

[Source]