Fraazo Lays Off Over 150 Employees, Shuts 50 Dark Stores To Cut Costs
Fraazo, a Mumbai-based fresh produce delivery service, has laid off around 150 full-time staff over operations, IT, product, marketing, HR store managers, strategy & growth teams, and others to cut costs amid a funding shortfall. According to reports, the number of laid-off staff would be significantly greater if off-duty employees were included.
Last year, the business said that it had opened over 250 dark storefronts across the country. Fraazo has only established 150 to 200 dark businesses so far. According to its website, Fraazo is available in most metropolitan cities like Delhi-NCR, Mumbai, Pune, & Bengaluru.
According to the reports, the startup entirely shut down its activities within the Delhi-NCR region last week, and the management has opted to wind up operations in the region. Fraazo had been planning to close its outlets in Gurugram, Noida, & Delhi for some time, according to the source.
According to the reports, the firm would also close several of its dark locations in Hyderabad & Bengaluru in the coming weeks. This is likely to lead to further layoffs. Fraazo now operates 16 dark shops in Bengaluru & 10 in Hyderabad. According to the sources, the number of active dark shops in Bengaluru would be lowered to ten and five in Hyderabad. “There is also a strong possibility that the company would cease operations entirely in Hyderabad or Bengaluru,” sources said.
Fraazo seems to be an interesting startup with a persuading development on food and beverage services platform. I’m certain this startup would keep on thriving in its excursion ahead. All the best to the whole group of Fraazo. This will give them immense achievement later on.Shishir Gupta, Founder and CEO, StartupLanes
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