Grabhouse lays off 100 employees

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Bangalore | Published: December 18, 2015 12:34:34 AM

Bengaluru-based broker-free online real estate aggregator Grabhouse has laid off 100 employees as a part of its restructuring process, the company said earlier this week.

Bengaluru-based broker-free online real estate aggregator Grabhouse has laid off 100 employees as a part of its restructuring process, the company said earlier this week.

“We have been forced to layoff employees due to restructuring of our business. This has been a tough decision for us and we are doing all we can to help people who have been laid off. We have organised a special recruitment team to help these employees find their next role asap and will continue to support this effort any way we can,” Pankhuri Shrivastava, co founder of Grabhouse said.

With over 2,000 listings and a daily traffic of around 4.5 million, the company further added that this step was taken to close down the costlier part of the business so that it can focus on its core business model that is to create better technology solutions that can connect home seekers and owners.

Backed by Sequoia capital, Grabhouse has raised $12.5 million so far. Founded by Pankhuri Shrivastava  and Prateek Shukla in 2013, it provides real estate solutions in 11 cities. Recently it also included paying guest (PG) accommodations along with its listings of rental properties.

Layoffs seem to continue in the start-up fraternity as this is one of the many cases where a start-up has resorted to mass firing as a part of its restructuring process.

LocalOye, a mobile marketplace for hiring local service professionals  also fired 60 employees a few months back soon after Zomato and TinyOwl laid off 300 and 200 employees respectively.

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