Company News
Urban Ladder lays off 90 employees due to fund crunchedit
Furniture and decor retailer Urban Ladder has laid off nearly 90 employees in the March quarter this year. The key reason behind the layoffs is Urban Ladder’s inability to raise more fund and its struggle to gain more profit. The inability to raise funds could largely be due to the new FDI rules in e-commerce. This is the second time the Bengaluru-based company has resorted to job cuts after 2016 retrenchment.
Publication : Business Today
Date : June 10, 2019
Urban Ladder lays off 40% workforce in Q4 FY19: Reportedit
Furniture retailer Urban Ladder laid off 40 percent of its workforce in the quarter-ended March, according to a report in The Hindu BusinessLine. Even as the company has been trying to sustain operations, the leadership team has claimed that it is a couple of months away from turning EBITDA (earnings before interest, tax, depreciation and amortisation) positive.
Publication : Money Control
Date : June 10, 2019