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Dunzo Co-Founder Dalvir Suri Quits As Company Faces Severe Cash Crunch, Delayed Salaries and Layoffs: Reports

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New Delhi, October 2: Homegrown quick-grocery delivery provider Dunzo’s co-founder Dalvir Suri has quit, as the company faces severe cash crunch amid delayed salaries and impending layoffs. Dunzo CEO Kabeer Biswas said that Suri has been instrumental in building out every new line of business at Dunzo, reports Entrackr. “He has been the key zero to one person from the founding team that just gets things Dun. He has been meaning to take a break for sometime now – and with 6+ years spent building Dunzo, he plans to move forward to pursuing new journeys,” Biswas said. WhatsApp Account Ban: Meta-Owned Instant Messaging App Bans Record Over 74 Lakh Bad Accounts in India in August 2023.

The move came as Dunzo is making organisation-wide changes in restructuring the business. The company is yet to disclose its financials for FY23. It registered Rs 54.3 crore in revenue from operations in FY22 as losses stood at Rs 464 crore. Meanwhile, Dunzo, which is likely to raise $35 million in funding from existing backers like Reliance Industries and Google as well as new investors, is reportedly laying off at least “150-200” more employees. Elon Musk Accuses Justin Trudeau of ‘Crushing Free Speech’ After Canadian Government Makes Registration Compulsory for Online Streaming Services

According to multiple reports, Dunzo is likely to trim its workforce further by around 30-40 per cent. The company has reportedly informed impacted employees that they would receive their full and final settlements in January. Last month, Dunzo further delayed the salaries of its employees for the months of June and July, this time to November, amid an ongoing fund crunch. The startup may also vacate its office in Bengaluru to cut costs, according to its co-founder and CEO Biswas.

(The above story first appeared on LatestLY on Oct 02, 2023 12:06 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website


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