Google-backed ShareChat, Dunzo hand out pink slips to employees

This comes amid the current funding crunch in the Indian start-up ecosystem

Mohalla Tech Pvt Ltd, the parent company of homegrown video-sharing platforms ShareChat and Moj, has laid off 20 per cent of its workforce, comprising around 500 employees.

It cited “external macro factors that impacted the cost and availability of capital” for this step. This comes at a time when quick-commerce platform Dunzo had last week laid off 3 per cent of its workforce as part of a restructuring exercise. However, the announcement was made on Monday.

The firms, which are both backed by Google, have become the latest entrants in the long list of start-ups laying off employees. This comes