Report: Hmlet cuts around 20% of employees amid financial troubles

Details:

• Departments including technology, operations, and marketing were affected by the job cuts.
• Hmlet’s existing investors have poured in more funds to help extend the startup’s cash runway during the Covid-19 pandemic.

Context:

• The redundancy comes shortly after co-founder Yoan Kamalski stepped down as CEO of the Sequoia Capital India-backed firm.
• In early 2020, Hmlet laid off at least 10% of its staff as it shifted to an “asset-light” model.