India: Quikr retrenches 500-600 employees after an internal scam

Photo: Mint

Online classifieds and services portal Quikr has let go off around 500-600 employees across multiple different job roles which have impacted at least three of its verticals including real estate, Quikr Jobs, and automobile segments, according to two people aware of the development. Quikr employed around 3,000 employees before the layoffs.

The Bengaluru-based startup’s decision to lay off employees comes shortly after it suffered crores of losses due to an internal employee fraud, said an ex-employee aware of the development requesting anonymity. The scam was orchestrated by mid-senior employees in the sales team at Quikr’s real estate product Grabhouse, the person added. The development was first reported by Deccan Herald on 13th December.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter