MyGate Lays Off 30% Workforce: Report

Opinions expressed by Entrepreneur contributors are their very own.

You are studying Entrepreneur India, a world franchise of Entrepreneur Media.

Bengaluru-based residence administration supplier software program supplier, MyGate, has laid off 30% of its workers from throughout the groups, in response to a YourStory report citing a number of sources. The report additional added that Tencent Holdings and Tiger International-backed firm had laid off the same proportion of workers in an earlier spherical of layoffs in December 2022.

“MyGate is doing properly, and we’re actively hiring to broaden our groups in sure areas. We’re a high-performance tradition—occasionally, we half methods with workers who aren’t an excellent match at MyGate, or if our necessities and alternatives warrant the identical,” a spokesperson for the corporate informed YourStory.

MyGate got here up with a neighborhood administration resolution to take manufacturers to individuals’s houses if they might not exit. The corporate was based in 2016 and is a subsidiary of its father or mother firm Vivish Applied sciences.

At present, as per the report, MyGate has a complete of 400 workers, down from almost 600 workers earlier than the latest spherical of layoffs. One of many sources reportedly confirmed that MyGate supplied some workers two months of severance pay whereas others weren’t paid any severance. Additionally, the layoffs have affected primarily mid-manager stage and junior-level workers throughout floor operations and neighborhood engagement platform verticals.

Based in 2016 by Vijay Arisetty, Shreyans Daga, and Abhishek Kumar, MyGate app offers workers attendance, grievance administration, paying upkeep, and communication companies for resident welfare associations by way of its SaaS product.

About the author

Tech Tropical

Tech Tropical has been initiated with the motive of providing the best quality information regarding different disciplines including innovation in nutrition as well as the advancement of technology. Our website covers topics related to technology incorporated strategies.

Leave a Comment