widgets

Girnar Software founded in 2007, is an ISO 9001 certified company. It consists of IIT’s and IIM’s alumnus and they represents the top level mangament. It has backed up many companies which includes Cardekho an auto portal and Pricedekho.

Recently Girnarsoft is planning on its first layoff of cutting its 136 employees in Cardekho. The firm is seeking for profitability and there lies no options in cutting off its employees in order to gain some profits in compliance to the Boards. This reduction will lead the company to be independent on external investor’s funds.
“Achieving this meant changes and optimisation of various costs…but a crucial and unfortunate outcome of the exercise was that we had to take a decision to part ways with 136 members of Girnar family,” Girnar Software CEO and Co-founder Amit Jain said in a letter to employees.

The company is not downsizing the employees on the basis of their performances. It is solely due to the cost structures, they would rehire all of the cut off employees if they need them in the future. They would be missing the most talented and specialised workforce.

The main motive of the company is for Cardekho to reduce its burning of cash and gain more profits; soon the implementation would be done for the better future of the firm. The outcome also requires to eradicate less expenses in travelling,outings,parties,servers and rentals. There will be some serious business in the firm starting from now. The employees were also given enough time for finding a suitable job where their CV’s were certified to be fair enough to get a good job, reassuring them in some of its investors portfolio.

Girnar is backed up by many investors. Some of them are Google Capital, Tybourne, HDFC, Hillhouse Capital, Ratan Tata and Sequoia Capital. They raised USD 15 Mn in Series A funding from Sequoia Capital lately.

 

Tags:
Cardekho

Leave your comment here:

Your email address will not be published. Required fields are marked *

Do not spam our blog. Your comment will be checked by administration.