Sachin Bansal's Navi Technologies lays off around 200 employees
IPO-bound Navi Technologies has laid off around 200 employees across departments, according to multiple industry sources.
IPO-bound Navi Technologies has laid off around 200 employees across departments, according to multiple industry sources.
A source said that the lay-off started a couple of weeks back, and more employees are likely to be fired from the company.
"Around 200 employees have been fired across all departments. 60-70 per cent have been impacted in the product development and management section," one of the sources said.
Another source said that more lay-offs are expected this week.
Navi Technologies did not respond to the queries. According to Navi technologies' draft IPO paper, the company had 4,680 employees as of December 31, 2021.
The company has plans to raise Rs 3,350 crore through the proposed IPO and has received market regulator Sebi's approval for the same.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
If you make RDs of Rs 5,000, Rs 10,000, Rs 15,000, and Rs 20,000 in post office, what will be your maturity amount?
Special Live Trading Session on Saturday: Know why BSE, NSE will remain open on May 18; check timings
Top 7 SIP Mutual Funds in 1 Year: What Rs 10,000, Rs 15,000, and Rs 20,000 SIPs have given in each fund
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
09:09 AM IST