Quikr acquired CommonFloor for $200 million (Rs 1350 crore) via cash/stock deal in November last year.Â Within 3 months of finalizing the acquisition, Quikr has decided to fire 150 employees of CommonFloor.
As per available informationÂ from Inc42, the following is the headcount of employees who are being fired from various departments:
- Design team: 15 employees have been fired, which is actually the entire team
- Engineering team: 5-10 employees fired
- Product team: 5 employees fired
- Service team: 20-30 employees fired
At the time of the acquisition, Bangalore office had around 650 employees, with total strength of 1000 employees pan-India.