Licious, D2C fresh meat and seafood company, has laid off 80 employees, representing 3 per cent of its total employee base as a part of operational reset to sharpen growth focus. The affected employees were informed on Friday.
Two months of compensation have been offered, along with the variable payout for FY2024, to the retrenched employees, the company said in a statement.
“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.
The Bengaluru-based company had approximately 3,000 employees in January this year, including 650 in corporate roles and 2350 in production and supply chain functions.
The company plans to unveil a renewed market expansion strategy, resetting the growth triggers in the coming weeks. Licious will focus on expanding the market potential and reach in the next financial year, as stated in the release.