BANGALORE: In the next three months realty portal Housing.com is planning to lay off 600 of its employees focusing on cutting down on its cash burn. The company plans to focus on the core technology and products that is by reforming the company and keeping a complete check on the work progress of its employees, reports ET.
The company had fired co-founder and former CEO Rahul Yadav owing to bad behavior. So for a company that is in the brink of a major change Housing is not backing off, while some employees were asked to leave as the businesses are being shut down and others are being laid off either because of underperformance or because of over staffing.
Of the total 2600 employees of the three year old startup, there are 160 confirmed removals in the noncore businesses that the company plans to shut.
In the past few months the company has been in turmoil at the top as the management has changed hands, so to regain soon the Mumbai-Based startup is focusing on revenue-generation and building an advertisement business.
The company is presently being led by an executive committee with Jonathan Bullock, majority shareholder SoftBank, Rishabh Gupta, interim CEO and chief operating officer, Housing's first angel investor Haresh Chawla and CTO Abhishek Anand are in the committee. The committee manages the finances and operations in a bid to bring the company back on track of success.
The company will soon be removing the underperformers in its engineering and product divisions and has fired operations staff hired for expanding to new cities.
READ ALSO:
10 Google URL's That Reveal Interesting Details About You
Nokia To Make A Comeback In Smartphone Space
