The Bengaluru-based company, which boasted a workforce of around 3,000 employees as of January, stated that this strategic realignment is part of its efforts to streamline operations.
The interest rates on a fixed deposit (FD) remain constant from the time the FD account is initiated, unlike market-driven investments where returns fluctuate over time.
Various factors contributed to this wave of layoffs, including mismanaged recruitments, struggles with ad revenue, and the overarching impact of a faltering economy.