New Delhi, January 23: Zomato-backed fitness startup CureFit has slashed 120 jobs earlier this week in a restructuring exercise, a media report said on Tuesday. The latest job cuts impacted workers across the company's brands like Sugar.fit, Carefit, Cultfit, among others, reports Inc42.
"As part of our regular annual operating planning process, we have reduced some redundant positions with the aim of streamlining operations," the company was quoted as saying. "This is aimed at improving productivity and setting us up for full profitability in FY25. We have done this with thoughtful consideration and with the interest of creating long-term value for our stakeholders,” it added. TikTok Layoffs: Chinese Short-Video Making Service Provider Lays Off Certain Number of Employees To Reduce Costs.
Earlier in 2020, the fitness startup laid off around 800 employees. CureFit, which was founded in 2016 by Ankit Nagori and Mukesh Bansal, operates the primary care vertical Care.fit, the mental health platform Mindfit, and the physical fitness platform Cultfit, among others. Nagori, however, subsequently departed the company to focus on his new venture -- Curefoods, a D2C cloud kitchen aggregator. Layoffs 2024: Video Game Developer Riot Games Announces To Eliminate About 530 Roles Globally, About 11% of Its Workforce.
Meanwhile, Softbank-backed mobile advertising giant InMobi is planning to lay off 125 employees from its global workforce of 2,500 in its second round of job cuts. According to a CNBC-TV18 report, the move will impact roughly 5 per cent of the total headcount.
(The above story first appeared on LatestLY on Jan 23, 2024 06:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).