Dunzo delays salaries of about half of employees: sources
Reliance Retail and Google-backed logistics and delivery platform Dunzo has deferred payment of the June salaries to about 500 employees, according to sources.
Reliance Retail and Google-backed logistics and delivery platform Dunzo has deferred payment of the June salaries to about 500 employees, according to sources.
Dunzo's top management is expected to be most impacted by the decision, sources said.
The development comes after Dunzo raised USD 75 million in April, and fired about 400 employees in the first half of this year as part of cost-cutting measures. The company at present has around 1,000 employees.
Dunzo has raised USD 457.6 million in 19 rounds of funding, according to Crunchbase data.
Reliance Retail holds around 25 per cent and Google has a 20 per cent stake in Dunzo, while there are 33 other investors, the data showed.
Dunzo has expanded business as a logistics aggregator and roping in delivery partners on a need basis rather than relying on 'dark stores' or in-house item storing.
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