Premji Invest-backed Increff Lays Off 60 Employees in Cost-Cutting Move | #increff #premji #layoffs

Premji Invest-backed Increff Lays Off 60 Employees in Cost-Cutting Move

NEWS Source:- https://inc42.com/buzz/exclusive-premji-invest-backed-increff-lays-off-20-workforce/

Important key takeaways:-

- Increff, a SaaS startup backed by Premji Invest, laid off approximately 20% of its workforce around 60 employees as part of a cost-cutting exercise. The affected employees came from various teams, including tech, sales, customer success, and HR.

- The layoff decision was influenced by adverse macroeconomic conditions and the company's failure to meet its targets for onboarding new clients. Increff also experienced some existing clients dropping out.

- Despite the layoffs, Increff's CEO and co-founder, Rajul Jain, stated that the company will continue its expansion plans in the US and Europe, but with a shift towards more partner-led sales rather than direct sales.

________________________________________________________________________________________________

Company Profile:-

Founded: 2016
Industry: Artificial Intelligence, Computer, E-Commerce, Fashion, Lifestyle, Supply Chain Management
Location: Bangalore, Karnataka, India
Total Funding: $17M
Company Stage: Series B
Founders: Anshuman Agarwal, Nirmal Jain, Rajul Jain, Romil Jain
Website:- www.increff.com

Increff is a cutting-edge technology company that specializes in providing supply chain and inventory management solutions for fashion and lifestyle brands. Founded in 2016, Increff offers advanced AI and machine learning-based software that enables businesses to optimize their inventory management, demand forecasting, and order fulfillment processes. The company's platform integrates data from multiple sources, such as online and offline sales channels, warehouses, and suppliers, to provide real-time insights and actionable recommendations. Increff's solutions help brands enhance inventory accuracy, reduce stockouts, and improve overall supply chain efficiency. With a focus on data-driven decision-making and process automation, Increff empowers fashion brands to stay ahead in a highly competitive industry and deliver exceptional customer experiences.

#increff #artificialintelligence #computer #ecommerce #fashion #lifestyle #supplychainmanagement #layoffs #layoffs2023 #startup #startupnews #financenews #businessnews #layoffnews #downsizing #unemployment #restructuring #jobloss #bangalore #bangalorejobs #karnataka #indianstartup

#trendingshorts #youtubeshorts #trendingtopic #trendingshorts #trendingnews #trendingvideo #makeitviral #viral #shorts #shortsviral
________________________________________________________________________________________________

Follow us on:-

LinkedIn:- https://www.linkedin.com/company/startupera-in
Twitter:- https://twitter.com/StartupERA_IN
Instagram:- https://www.instagram.com/startupera_in/
Facebook:- https://www.facebook.com/StartupERA.IN/
___________________________________________________________________________________________________