CRED-owned Happay layoffs 35% of its workforce

Is it happay? Or cred has also started laying off?

How many people? I don’t think they had 450 people in 1st place

I heard it's 50%

This is the first sign of trouble imo. Usually orgs do layoffs to reduce headcount overhead from acquired organisations because the back lash and PR isn't as negative. But if it isn't controlled, it more or less spills over to the parent company in this case could be Cred laying off if they don't see their bottom-line improving!