Omnichannel meat retailer Licious recently cut 80 jobs, accounting for 3% of its workforce. The company explained that these layoffs are a component of an “operational reset to sharpen growth focus”.
Currently, Licious has 650 corporate employees and 2,350 employees involved in production and the supply chain.
According to the company’s statement, the affected employees will receive two months’ salaries as compensation, along with the variable payment for FY24.
Licious, the sole unicorn in its sector, has observed a gradual slowdown over the past 18 months.
Despite reporting a 9% growth in revenue for FY23, reaching Rs 748 crore, the company fell short of its projected revenue of Rs 1,500 crore.
In response to the seasonal fluctuations in meat consumption during festivals, Licious has been working to diversify its product range, introducing ready-to-eat items and launching its plant-based meat brand, UnCrave.
