India’s Fastest Unicorn which has a 2.7 billion USD which is Rs 20,000 Cr valuation and 46 Cr revenue is on the news today but this time it’s on the wrong side.
Udaan has already fired many and may fire more if the situation continues B2B commerce start-up Udaan is an online marketplace that facilitates buying and selling fashion products, groceries, and electronics among manufacturers, brands, and retailers.
Udaan was Founded by former Flipkart executives 4 years back and has a presence in 900+ cities. Udaan employed around 5000 employees. Further, the majority of the contractual employee base acted as sales and operations officers working to boost sales in the Kirana store segment.
Apart from this, Udaan said that each associate who has been impacted is provided with additional compensation of one month and will be part of the priority hiring list where they would be given preference to join Udaan when a relevant opportunity exists within the system. In addition to that, associates affected and who are covered under Udaan’s medical insurance scheme will continue to get medical insurance benefits for an additional period of 3 months.
The fleet-on-street and delivery personnel have been facing challenges over the past month, in terms of procuring necessary passes for movement and delivery of goods, which is adversely affecting their employment status.
The Karnataka labor department will look into the matter of layoffs by B2B commerce startup Udaan