Koo, which claims to compete with Twitter, lays off 30% employees in one stroke - Newztezz Online


Thursday, April 20, 2023

Koo, which claims to compete with Twitter, lays off 30% employees in one stroke

Koo Layoffs 2023: 'Koo' is an Indian social media company that claims to compete with Twitter. Currently this company is trying to get funds. According to the latest information, the company has fired 30 percent of its employees.

Once again the effect of retrenchment is being seen in the Indian tech sector. The famous social media platform Koo has shown the way out to about a third of its employees. The Indian microblogging company is facing losses for the past few months. Apart from this, the company is also unable to raise funds. Of the 260 workers working in the three-year-old microblogging app, 30 per cent have been laid off. The Koo app claims to compete directly with Twitter. Let us tell you that Twitter also had layoffs last year, which affected several thousand employees.

Tech companies around the world are focusing on better efficiency and performance. Retrenchment has emerged as an important weapon in giving growth to the business. From Twitter to Google, Meta, Amazon, thousands of people were fired. Now the Indian company Ku has also adopted the path of retrenchment to move forward.

Koo's loss

Many celebrities have accounts on the Bengaluru based social media company. Many government officials, politicians, cricket stars and Bollywood celebrities use 'Koo'. However, even after the competition from Twitter and the presence of big personalities, the company is facing losses. The situation in the tech sector is very bad at the global level, and Ku is also struggling with it.

over 60 million downloads

An employee of Ku has confirmed the matter of retrenchment. The company's co-founder Mayank Bidawatka had said that Ku has been downloaded more than 60 million times. He claimed that the capitalization of the company is good and the company is trying to earn profit through monetization methods.

The company will give benefits if you lose your job

Microblogging company needs investment for good growth. The company has been struggling for funds for a long time. At the same time, the laid-off employees will get compensation package and health benefits. Apart from this, help will be given to find a new job.

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