Business Standard

Monday, December 23, 2024 | 04:32 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

ZestMoney looking to lay off employees after deal with PhonePe fails

ZestMoney founders held a town hall on March 30 and informed employees about layoffs across depts, say sources; not known yet how many would be asked to go

Stress, depression, burnout, employees, workers, jobs, wfh, work from home, work
Premium

Peerzada Abrar Bengaluru

Listen to This Article

ZestMoney is looking to lay off several employees a day after Walmart-backed PhonePe decided to halt its proposed acquisition of the Bengaluru-based buy now, pay later (BNPL) platform. The Goldman Sachs- and Xiaomi-backed firm has about 450 employees, all of whom were expected to be absorbed by PhonePe if the acquisition had matured.

ZestMoney founders held a town hall on March 30 evening and informed employees about layoffs across departments, according to the sources. However, it is not known yet how many employees would be laid off.

"The company is working on a business continuity or a survival plan and

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in