Sequoia-backed cloud kitchen unicorn Rebel Foods fires close to 2% of its workforce

Sequoia-backed cloud kitchen company Rebel Foods, which houses brands like Behrouz Biryani, Faasos, Oven Story, among others, has reportedly fired close to 2 per cent of its workforce due to an ongoing restructuring process in the company. As per the company's LinkedIn page, it currently has a little over 2,500 employees.

The company spokesperson, talking to BT, has confirmed the development. As per the company, the layoffs have happened due to a 'realignment in the organisation.'

"Any news heard is on account of annual performance evaluation and realigning the organisation to our priorities for future goals. The impacted number is less than 2 per cent of our organisational strength," the spokesperson said.

Founded in 2011, the cloud kitchen company claims to operate over 450 kitchen locations and over 4,000 internet restaurants across 70 cities in 10 countries.  Its brands include Faasos, Mandarin Oak, Sweet Truth, Behrouz, Lunch Box, Oven Story, The Good bowl, Firangi Bake, The Biryani Life.

The foodtech unicorn recently secured Rs 55 crore in a debt funding round from existing investors InnoVen Capital and Trifecta Capital. The company is backed by investors such as Goldman Sachs, Sequoia Capital India and Qatar Investment Authority (QIA).

Recently, the company also acquired a majority stake in luxury chocolate brand SMOOR.

In an allied development, a former Rebel Foods employee, named Swapnil Tripathy, also took to LinkedIn to share the news of the layoffs.

"An unfortunate start to 2023 for me !! It's been almost 3 years since I have been working with Rebel Foods as a Zonal Business head," he wrote.

"Everything was going so well until yesterday when I was coming back home after having a good productive day in the market and suddenly got a Google meet invite from management. I was shocked to know that i have been laid off due to some organisational restructuring process. I was shocked to know that even after a 120 per cent achievement, an amazing performance for the entire 3 years of building a business from scratch is what I have done here," the former employee added.

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