According to a report in leading start-up portal Inc42, the latest job cuts hit workers across multiple departments, including technology, product, HRBP and sales.
“The workforce reduction was necessary to align business strategy with market demand,” said FarEye CEO Kushal Nahata, referring to the macroeconomic conditions ahead of the new round of layoffs.
Last June, FarEye laid off nearly 250 employees during the funding winter that swept the startup ecosystem.
The company asked some of its staff to leave due to “strategic redeployment” to focus on areas that generate maximum value.
At the time, Nahata had said the platform had to “make some tough decisions to shrink its team across operations and services.”
“We are strengthening our core competencies, deepening our focus on product differentiation and automation, and optimizing the effort required to manage operations,” added Nahata.
FarEye, a global SaaS platform provider transforming last-mile logistics, was founded in 2013 by Nahata, Gautam Kumar and Gaurav Srivastava.
In May 2021, it raised $100 million in its Series-E funding round led by TCV and Dragoneer Investment Group.
In India, more than 21,000 tech workers have lost their jobs in the deepening funding winter.