ReshaMandi Lays Off 80% of Workforce Amid Funding Struggles
ReshaMandi, the Bengaluru-based startup, has laid off 80% of its workforce, impacting around 700 employees across various departments.
Massive Layoffs Announced
The layoffs are attributed to the company’s inability to secure essential funding, leading to severe financial strain and necessitating cost-cutting measures.
The sudden layoffs have left many employees scrambling for new opportunities in a challenging job market, causing significant frustration and uncertainty.
ReshaMandi’s leadership remains hopeful, aiming to stabilize operations by focusing on core strengths and reducing overhead costs to attract future investments.
The situation highlights the volatility of the startup ecosystem, especially for high-capital sectors like agriculture and textiles, raising questions about the sustainability of current funding models.