B2B e-comm Udaan cuts 100-plus jobs: Read comp’s statement

B2B e-commerce platform Udaan has reportedly cut over 100 jobs as part of a restructuring exercise. The company merged its essentials and discretionary business units in September. Udaan recently secured $340 million in funding, but this is the second time in 13 months that the company has laid off employees after raising capital. Udaan aims to use the fresh funds to strengthen customer experience, market penetration, vendor partnerships, and supply-chain capabilities. In FY23, Udaan’s operating revenue decreased by 43% to Rs 5,609 crore.