Cashfree Layoffs Online Payment Firm Cashfree Layoffs 6 To 8 Percent Of Workforce Know Details

Cashfree Layoffs: The process of retrenchment continues in the year 2023 as well. Cashfree, a startup company providing online payment service in the country, has decided to retrench and fired 60 to 80 of its employees. Giving information about this, the company said that it has taken this decision for the organization’s restructuring. Cashfree Layoffs has fired 6 to 8 percent of its employees in the last few weeks. This company is a Bangalore based startup which is laying off its employees for cost cutting.

Company laid off for cost cutting

It is worth noting that in the last few years, Crashfree is one of the biggest layoffs in the company. Giving information on this matter, according to the report published in the Economic Times, Cashfree has said that according to the business of the market, Cashfree assesses its performance from time to time. In such a situation, some employees are transferred from one section to another and in the meantime the company has laid off some employees for cost cutting.

Many startups have laid off employees

Let us tell you that Cashfree has fired 6 to 8 percent of its workforce in the process of retrenchment. Apart from Cashfree, many startups of the country have laid off their employees. These companies are Byju’s, Unacademy, Lead, Swiggy, Vedantu etc. The year 2023 has started in the shadow of recession. Even in the year 2022, many big companies like Twitter, Facebook’s parent company Meta, Amazon, Microsoft have laid off a large number of their employees.

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