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Exclusive: WayCool Fires 70 Employees In Second Restructuring Exercise WithIn A Year

Inc42 · 1y

Chennai-based agritech startup, WayCool Foods, has reportedly laid off at least 70 employees across various departments including sales, research, marketing, and tech. This is the second round of layoffs within a year for the company, which attributed the restructuring exercise to the rationalization of its warehouse footprint. WayCool also closed its warehouses and the layoffs were reportedly due to the startup's failure to raise new funding. The company claims that its shift in strategy has helped reduce its EBITDA loss significantly and it aims to achieve EBITDA profitability in Q1 FY25.