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New Delhi: Cash-strapped Dunzo, which has cut several jobs in the past few months and has been delaying salary payment to employees, is negotiating hard with investors to raise a fresh tranche of funding. Sources said that the firm’s existing investors, including Reliance Retail and Google, may infuse about $30-$35 million into the company. Dunzo declined to comment. An e-mail sent to Reliance Retail did not elicit any response, while Google could not be reached immediately.
Layoffs at the firm, which is struggling to stay afloat, continue. The company undertook fresh layoffs earlier in the day across many departments. Dunzo refused to share any detail. In April this year, Dunzo had fired some 300 employees and let go of about another 200 employees in July. The quick commerce company led by CEO Kabeer Biswas has also been unable to clear pending salaries of employees. Several of the firm’s staff have not yet received their June and July salaries, the timeline for which has further been deferred to November.
Layoffs at the firm, which is struggling to stay afloat, continue. The company undertook fresh layoffs earlier in the day across many departments. Dunzo refused to share any detail. In April this year, Dunzo had fired some 300 employees and let go of about another 200 employees in July. The quick commerce company led by CEO Kabeer Biswas has also been unable to clear pending salaries of employees. Several of the firm’s staff have not yet received their June and July salaries, the timeline for which has further been deferred to November.
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