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TinyOwl confirms layoffs at company ; report pegs number at 160 employees

Online food delivery service TinyOwl confirmed to MediaNama that it has let go of a number of employees at the company. The development was first reported by Yourstory which pegged the number of lay offs at 160 primarily from their Mumbai and Pune offices. Statement from TinyOwl: "TinyOwl has grown immensely in the past year and our efforts continue to be focused on strengthening the brand’s position in the market on a national level. The elimination of certain positions in the company have been made on a strategic level, to increase efficiency, productivity and re-direct our diverse talent to focused departments, providing the best innovative offerings to our customers. We appreciate the contributions of all the employees in making TinyOwl an amazing growth story. We see this development as a positive move towards growth, and will continue to hire informed talent across the country, to provide our customers a seamless food ordering experience." Tanuj Khandelwal, Cofounder, TinyOwl The Yourstory report adds that the majority of the lay offs were from the sales and marketing teams, and the business intelligence and data teams. TinyOwl, which had raised Rs 100 crore in series B funding in February, had at the time 400 employees working with them and were planning to roll out operations in 50 cities in India by the end of the year. MediaNama had pointed out that if the company had to follow through their expansion plans, that it would be a an uphill task with majority of the funding going into paying salaries and administrative costs. In our rough estimate,…

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