Facebook Instagram Twitter Youtube
  • Home
  • EMPLOYEES RIGHTS
  • PROPERTY RIGHTS
  • FINANCE
  • SALARY
  • TAX
  • EPF
  • JOB
Search
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
Rightsofemployees.com
- Advertisement -
  • Home
  • EMPLOYEES RIGHTS
  • PROPERTY RIGHTS
  • FINANCE
  • SALARY
  • TAX
  • EPF
  • JOB
Home FINANCE Employees Update: Big News! Now this tech company fired more than 100...
  • FINANCE
  • JOB

Employees Update: Big News! Now this tech company fired more than 100 employees

By
Pravesh Maurya
-
December 3, 2022
0
72
Facebook
Twitter
Pinterest
WhatsApp
Telegram

    Due to the fear of recession, many big tech companies of the world are laying off employees. In this episode, India’s domestic social media company ShareChat (Mohalla Tech Pvt Ltd) has shut down its fantasy sports platform called Jeet11 and fired 5 percent of its employees.

    - Advertisement -

    The company has confirmed this on Friday. Sharechat has around 2,200 employees and more than 100 people have been affected by this layoff. The Google and Temasek-backed unicorn said it will continue to hire across all roles and functions.

    Told the layoffs as standard business practice

    Mohalla Tech said in a statement, “As a standard business practice, we evaluate our strategies from time to time. We confirm that we are ceasing operations of JIT11 and we have reorganized some of our functions, which will mean some talent movements within teams and some staff exits. This process has affected less than 5% of our employees.”

    Please tell that ShareChat was founded in 2015 by Farid Ahsan, Ankush Sachdeva and Bhanu Pratap Singh. It launched Jeet11 in February 2020 to compete with popular fantasy gaming platform Dream11, which allowed users to bet on cricket and football matches.

    In the last few days, many tech startups have reduced employees due to funding freeze due to a challenging economy. Earlier this week, news aggregation unicorn Dailyhunt and short video platform Josh’s parent firm VerSe Innovation Pvt. Ltd had laid off 5% of its 3,000-strong workforce.

    Last month, SoftBank-backed edtech unicorn Unacademy laid off 10 per cent of its workforce, or around 350 people, in its third round of layoffs within a year, signaling challenges ahead for the edtech sector.

    - Advertisement -
    • TAGS
    • Employees Update:
    • India's domestic social media company
    • Mohalla Tech Pvt Ltd
    • ShareChat
    • tech company fired
    Facebook
    Twitter
    Pinterest
    WhatsApp
    Telegram
      Previous articleDigital PAN Card Process: Digital PAN card will be made in a few hours through Aadhaar, Know how?
      Next articleIT Department warns these PAN card holders! PAN card holders should do this work before 31.03.2023, otherwise…
      Pravesh Maurya
      https://www.rightsofemployees.com/
      Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com
      Facebook Instagram Telegram Twitter Youtube

      Related ArticlesMore From Author

      FINANCE

      Want to delete transaction history on Google Pay? This trick is very easy, know the step-by-step process

      FINANCE

      Auto Sweep Facility: Amazing facility on savings account! FD interest on amount and withdrawal of money as per need without penalty

      FINANCE

      Go First CEO Resigns: Go First CEO Koshik Khona resigns, said this to employees in mail

      Recent Posts

      • Want to delete transaction history on Google Pay? This trick is very easy, know the step-by-step process
      • Auto Sweep Facility: Amazing facility on savings account! FD interest on amount and withdrawal of money as per need without penalty
      • Go First CEO Resigns: Go First CEO Koshik Khona resigns, said this to employees in mail
      • Reminder for December: Complete these 5 tasks in December at all costs, if the deadline passes then you will be left regretting.
      • New rule on NPS! Investors get the facility to choose 3 pension fund managers, know how they will benefit

      Read More

      Want to delete transaction history on Google Pay? This trick is...

      December 2, 2023

      Auto Sweep Facility: Amazing facility on savings account! FD interest on...

      December 2, 2023

      Go First CEO Resigns: Go First CEO Koshik Khona resigns, said...

      December 2, 2023

      Reminder for December: Complete these 5 tasks in December at all...

      December 2, 2023
      New rule on NPS! Investors get the facility to choose 3 pension fund managers, know how they will benefit

      New rule on NPS! Investors get the facility to choose 3...

      December 2, 2023

      EDITOR PICKS

      Want to delete transaction history on Google Pay? This trick is...

      December 2, 2023

      Auto Sweep Facility: Amazing facility on savings account! FD interest on...

      December 2, 2023

      Go First CEO Resigns: Go First CEO Koshik Khona resigns, said...

      December 2, 2023

      POPULAR POSTS

      Bank License Cancelled: Big news! RBI has canceled the license of...

      September 22, 2023

      Bank Holiday Cancelled: RBI issued new order, Holidays have been cancelled,...

      September 28, 2023
      RBI Big

      500 Rupees Note Alert! Reserve Bank has issued new guidelines regarding...

      October 4, 2023

      POPULAR CATEGORY

      • FINANCE8554
      • TAX540
      • EPF509
      • JOB119
      • PF119
      • PROVIDENT FUND76
      • Labour Law46
      • SALARY42
      ABOUT US
      Rightsofemployees.com delivers the most comprehensive source of free-to-access Govt. updates, analysis and insights. We publish articles every day.
      Contact us: rightsofemployeescom@gmail.com
      • Home
      • About us
      • Authors and Team
      • Contact US
      • Cookie Policy
      • Correction policy
      • Disclaimer
      • DNPA Code of Ethics
      • Fact-Checking Policy
      • Onwership and Funding
      • Privacy Policy
      • Terms of Service
      • Complaint Redressal
      © Copyright 2023 - Rightsofemployees.com Izon web Pvt. Ltd. All Rights Reserved.
      Go to mobile version