In the social media arena, the local company Sharechat has decided to remove 101 of its employees. In fact, due to the Corona epidemic, the company is sacking employees due to market uncertainties. In an e-mail sent to its employees, the company said that steps are being taken to keep the company in better condition in future. Ankush Sachdeva, the co-founder and CEO of Sharechat, said, 'We are sending away 101 Sharechats today. It was a difficult decision for us. We hope that you will understand that we have to take this step to maintain the organization.
Due to the stagnation of the business during the last few weeks, many technology-related companies like Uber, Zomato and Swiggy have announced to show the way out to the employees.
In its statement, the app said that it expects the advertising market to be unpredictable this year. ShareChat is five years old and has 6 crore active monthly users in India. The main source of its revenue was advertising, but due to slow economic activity due to COVID-19, the advertising market has been severely affected. Sachdeva also said that the company was lucky to raise capital last year, now it will have to save its business again.