Startup company MYGATE has laid off 30 percent of its employees.
MyGate Layoff: Previously a team of 600 employees, the startup’s workforce has come down to 400 after layoffs. This means that 200 employees have been laid off. Some of the terminated employees were reportedly offered two months’ salary, while others were not given any severance package.
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MyGate Layoff: Community and security management startup company MyGate has laid off 30 percent of its employees. The company has taken this decision due to funding winter. The Bengaluru-based startup has laid off mid-management and junior employees in the last 15 days. Let us tell you that in the recent past, many startup companies are facing difficulty in getting funding, in such a situation, mass layoffs are being done.
Layoff 200 employees
Earlier there was a team of 600 employees, but after layoffs, the startup’s workforce has come down to 400. This means that 200 employees have been laid off. Some of the terminated employees were offered two months’ salary, while others were not given any severance package, according to reports. A mail was sent to the startup to inquire about the layoffs, but they did not respond till the time of writing the report.
About the company
This company was started in the year 2016 by Vijay Arisetty, Vivek Bhardwaj, Shreyans Daga, and Abhishek Kumar. The company is engaged in security management at the entry and exit gates of apartment complexes. It also offers other security-related systems such as RFID cards, biometrics, and vehicle stickers. MyGate provides various services like visitor, delivery, and daily help management along with child security to individual residents through its mobile app.
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