Chingari, an on-chain social app, has laid off 20 per cent of its workforce as part of organisational restructuring. Employees across departments have been affected by this exercise. The company has 240 employees.

This comes weeks after its co-founder Aditya Kothari exited the firm. Chingari said its priorities will continue to be streamlining processes, boosting productivity, and matching resources to long-term growth goals.

The start-up in February raised an undisclosed equity funding round from Aptos Labs. Chingari had planned to use funds for user growth, product development, global expansion, and to ramp up its engineering team.

“We deeply regret the need for these workforce reductions of 20% as a part of Chingari’s organisational restructuring. These were one of the toughest decisions for our management and we understand the impact they have on our employees. We are appreciative of their contributions and commitment to Chingari,” a company spokesperson said in a statement.

Also read: Content creators on YouTube Shorts more than double: Good Creator Co

Chingari also said for its affected employees, it will be offering a severance package equal to two months’ salary to assist them during this transition. Additionally, it will also be providing three more months of health insurance coverage.

“We are devoted to supporting our impacted employees by providing all-encompassing support, such as career counselling and job placement assistance,” the company noted. 

Chingari is an on-chain social app, launched in 2018. Its platform is said to have over 175 million users and video content in multiple languages. The short video app gained popularity after the ban of TikTok in 2020. 

Related Topics
comment COMMENT NOW