CityMall, a Delhi-NCR-based social commerce startup, terminated the employment of around 90 employees on October 16, across all functions.
The development comes nearly 16 months after the social commerce startup conducted the first round of layoffs, when around 190 employees were let go.
Notably, this came just three months after it secured $75 million in its largest funding round to date, led by Norwest and Citius VC, at a valuation of around $300 million.
The company has raised just over $100 million so far.
The startup has provided a month’s salary as severance pay to employees affected by the latest round. The company had around 973 employees as of July this year, according to startup intelligence platform TheKredible.
Employees affected by the layoffs were asked to report to the office earlier than their usual start time on Monday, when they were informed about the layoff.
According to sources aware of the matter, the latest round of layoffs have come as the company is looking to raise a fresh round of funding. CityMall, however, did not respond to a request for comments.