CureFit, a Zomato-backed fitness startup slashed 120 jobs earlier this week (in mid-January) in a restructuring exercise. As per the media report, the latest job cuts have impacted the workers across the brands of the company like Cultfit, Sugar.fit, Carefit among others
Reason for layoff
"As part of our regular annual operating planning process, we have reduced some redundant positions with the aim of streamlining operations," the company quoted saying in Inc42 reports .
It further added, "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.
Earlier in 2020, the fitness startup laid off around 800 employees.
About CureFit
CureFit, which was founded in 2016 by Ankit Nagori and Mukesh Bansal, who operated the primary care vertical Care.fit, Mindfit- the mental health platform, and Cultfit- the physical fitness platform, among others.
Nagori, however, subsequently departed the company to focus on his new venture -- Curefoods, a D2C cloud kitchen aggregator.
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.
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Inputs from IANS
