Meesho, the unicorn of e-commerce, has laid off 251 employees, or 15% of the staff. Meesho's founder and CEO, Vidit Aatrey, explained in an email to staff that the business overhired in order to get ahead of the curve and that it now needs to match its personnel costs to new business estimates because the macroenvironment has altered since the 2020–2022 timeframe.
Meesho spokesperson said, “We have taken a difficult decision to part ways with 251 Meeshoites constituting 15 per cent of the employee base, as we look to work with a leaner organisational structure to achieve sustained profitability. We are committed to ensuring all those impacted have our full support and will be provided a separation package that includes a one-time severance payment of 2.5 to 9 months (depending on tenor and designation), continued insurance benefits, job placement support and accelerated vesting of ESOPs. We remain grateful for their contribution in building Meesho.”