BQ PRIME - Mohalla Tech Pvt., the parent of the social networking app ShareChat and the short video app Moj, has laid off ~20% of its workforce (~500 employees). The company said it needs to "prepare to sustain" through "several external macro factors that impact the cost and availability of capital." The company confirmed that it will pay the total salary for the notice period and allow employees to retain all vested ESOPs, and the options will continue to vest as per schedule up until Apr 30.
by Rishabh Bhatnagar
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