Licious lays off 3% of workforce, 80 employees, for restructuring to expand targeted households and reduce losses.

Foodtech platform Licious is laying off approximately 80 employees, or 3% of its workforce, as part of a restructuring exercise. The company aims to expand its targeted households and encourage more consumers to transition from traditional markets to contemporary purchase formats. Despite seeing its operating revenue remain flat at Rs 746.3 crore in FY23, Licious's losses narrowed to Rs 528.5 crore, down from Rs 855.6 crore in FY22.

February 09, 2024
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