by
Published: Jan 15, 2025 6:21 PM | 1 min read
Follow Us
Social media platform ShareChat is reportedly laying off about 5% of its workforce, or about 20-30 employees from across verticals. This will be the second round of layoffs at the company in the past six months. According to media reports, the layoffs are taking place after an annual performance review.
ShareChat currently has 530-550 employees.
One of the media reports quoted a ShareChat spokesperson as saying that the company kickstarted its annual appraisal cycle.
“Every performance cycle, as a practice, roughly 3-4 percent of employees are rated at the bottom of the pyramid in terms of performance. And those people are asked to leave,” the spokesperson was quoted as saying.
In August 2024, ShareChat handed over pink slips to 5% of its workforce as part of its mid-year performance cycle. In 2023, the firm implemented several cost-cutting measures and sacked 700 employees.
Read more news about Digital Media, Internet Advertising, Marketing News, Television Media, Radio Media
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook, YouTube & Google News