BENGALURU: Realty portal Housing.com plans to lay off at least 600 employees in the next three months, as it steps up focus on its core technology and product and tightens its cash burn, according to several people familiar with developments at the company.
"Housing is being completely restructured and performance for each employee across departments is being (scrutinised)," said a top executive at the company, which in July fired cofounder and former CEO Rahul Yadav for bad behaviour after months of chaos.
"While some people have been asked to leave because businesses are being shut down, others because of underperformance and in some cases due to overstaffing," this person said.
A management representative at Housing said the company was laying off 160 employees in noncore businesses that it plans to shut. The threeyear-old startup employs about 2,600 people.
After the recent upheavals in its top management, Mumbai-based Housing.com has increased focus on revenue-generation and building an advertisement business. It has shut its commercial properties, short stays and land businesses and streamlined focus on large cities and towns while ceasing operations in smaller cities.
"Housing is being completely restructured and performance for each employee across departments is being (scrutinised)," said a top executive at the company, which in July fired cofounder and former CEO Rahul Yadav for bad behaviour after months of chaos.
"While some people have been asked to leave because businesses are being shut down, others because of underperformance and in some cases due to overstaffing," this person said.
A management representative at Housing said the company was laying off 160 employees in noncore businesses that it plans to shut. The threeyear-old startup employs about 2,600 people.
After the recent upheavals in its top management, Mumbai-based Housing.com has increased focus on revenue-generation and building an advertisement business. It has shut its commercial properties, short stays and land businesses and streamlined focus on large cities and towns while ceasing operations in smaller cities.
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