Hike Lays off 25% Workforce, Shuts down Bengaluru Operation
While hiring season was just picking up, startups now seem to counter the trend. Messaging platform Hike has announced employee layoffs for up to 20-25% as it is shutting down its Bengaluru operations.
A Hike representative confirmed the news stating,
We made a few acquisitions last year that skyrocketed the team size, mostly in Bengaluru. We’re integrating and streamlining these teams. Just business as usual.
Kavin Bharti Mittal, company's co-founder informed that it had become increasingly difficult for the company to manage both the locations. As a result, the platform is finally moving its base to Delhi.
The report has speculated that most of the reductions are from its last two acquisitions — Creo and InstaLively. Moreover, the layoffs are expected in multiple functions such a...