Peak Layoffs in Unicorn

It’s been reported that Unicorn Gupshup has laid off around 290 employees under the guise of cost-cutting measures and rumoured a news of performance. This move follows unsuccessful attempts to secure funding, leaving the company in a tight financial position in declining of 42% in valuation.

Internal sources suggest that more layoffs are anticipated, not only within Gupshup but also in its recently acquired companies. The motive? Streamlining operations ahead of a potential IPO launch—despite the CEO stating in a recent town hall that there are no immediate IPO plans. Interestingly, the company has reportedly been aligning for an IPO for the past three years, aiming to position itself as a leader in the tech space.