Livspace, an omnichannel home interiors and remodelling platform, has joined the slew of Indian firms that have laid off workers in the pursuit of profitability. It has laid off around 2 per cent of its total personnel in order to achieve profitability by the end of FY24.

According to the media reports, the layoffs have affected 45 per cent of the company’s technology and product teams. 36 employees, including software engineering developers and directors, have been asked to quit the organisation. Livspace has 5,000 employees in total. It is unknown whether non-tech personnel were laid off.

Growth stage well established startups like Dealshare, GoMechanic, MohallaTech, Swiggy,Dunzo, Ola, Cashfree, Byju’s, Vedantu, and Unacademy have also downsized staff, citing the ongoing funding crisis and keeping their cash runways in check.

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