Short video app, Chingari has announced a round of layoffs affecting 20 per cent of its workforce. The app rivals brands such as Instagram and Snapchat. Chingari gained popularity in the Indian market after the ban of TikTok in June 2020.
A Chingari spokesperson confirmed the move to Business Today, saying, "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."
The company has also disclosed the severance offered to the impacted employees. Fired employees will get a severance pay package worth two months' salary. The statement explains, "We are recognising the contribution and dedication of the affected employees by offering a severance package equal to two months' salary to assist them during this transition. Additionally, in order to prioritise the affected employees' health during this trying time, we will make sure they have three more months of health insurance coverage.
The company also plans to provide additional support for further job search by offering career counselling and job placement. The statement added, "Moreover, we are devoted to supporting our impacted employees by providing all-encompassing support, such as career counselling and job placement assistance. Our priorities continue to be streamlining processes, boosting productivity, and matching resources to our long-term growth goals."
The layoffs, first pointed out by Inc42, come as Chingari, like many other tech companies, faces multiple rounds of layoffs.
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