Meesho, a homegrown social commerce platform, revealed on Friday that it has laid off 251 employees, which accounts for 15% of its workforce, with the goal of achieving sustained profitability.
In a statement, the company acknowledged the difficulty of the decision to part ways with 251 team members, constituting 15% of its employee base. The move is part of a strategy to streamline the organizational structure and ensure long-term profitability.
Meesho emphasized its commitment to supporting those affected by providing a comprehensive separation package. This package includes a one-time severance payment ranging from 2.5 to 9 months, depending on the individual’s tenure and designation, continued insurance benefits, job placement assistance, and accelerated vesting of Employee Stock Ownership Plans (ESOPs).
“We are deeply appreciative of the contributions made by these individuals in the journey of building Meesho,” stated a company spokesperson.
Last year, Meesho discontinued its grocery business, Superstore, in over 90% of cities across India, resulting in additional job losses.
Reports indicate that close to 300 employees were affected by the closure of Meesho Superstore. Initially launched as Farmiso, the platform was rebranded to Superstore, underscoring Meesho’s commitment to meeting consumer demand for daily essentials, particularly in Tier 2 markets and beyond.
Meesho Superstore operated in several states, including Karnataka, Telangana, Andhra Pradesh, Gujarat, Madhya Pradesh, and Maharashtra. The company had also initiated a pilot project in Karnataka aimed at making online grocery shopping more accessible and affordable.
