Licious Lays Off 80 Employees In 'Operational Reset'

Direct-to-consumer meat brand Licious has laid off about 3% of its workforce, or about 80 employees, as part of an "operational reset."

The Bengaluru-based company has about 3,000 employees, comprising 650 corporate staff and 2,350 people across production and supply chain functions.

“Licious, as a brand, sees significant scope in expanding the number of targeted households to further fuel the consumer transition from traditional markets to contemporary purchase formats. We are reprioritising our cost outlays, considering the new growth levers. In doing this, it is unfortunate that we have to separate with some employees who have been a part of our journey,” the company said in response to queries.

It will unveil a "renewed market expansion plan, resetting the growth triggers in the coming weeks," the company said.

"With significant investments in the brand, deeper backward integration and an active pursuit of automation in the supply chain, Licious will focus on expanding its market potential and reach in the next financial year," it said in a statement.

The eight-year-old startup is tracking an annual revenue run rate of Rs 900 crore, with about Rs 800 crore in cash from the previous funding rounds, it said. It is also on track to achieve operational profitability by the end of FY25.

Over the last couple of months, layoffs have once again rocked the Indian startup ecosystem, with Flipkart, Swiggy, Paytm, ShareChat, InMobi and Cult.fit all letting go of employees.