The meat delivery startup Licious has initiated cost-cutting measures by laying off around 3 percent of its workforce, equivalent to approximately 80 employees.
Prior to the restructuring, Licious had a workforce of approximately 3,000 employees, including about 650 corporate staff and 2,400 individuals in production and supply chain roles. This move reflects the company’s endeavor to realign its operational focus and streamline costs in response to evolving growth dynamics.
Confirming the layoffs, Spokesperson from Licious said, “We are reprioritising our cost outlays, considering the new growth levers. In doing this, it is unfortunate that we have to separate with some employees who have been a part of our journey.” This underscores the brand’s commitment to navigating market transitions while acknowledging the impact on its workforce.
Licious’ strategic shift comes amid modest growth in operational revenue during FY23, falling short of initial projections. Despite challenges, the company’s monthly revenue has recently surpassed Rs 75 crore, indicating signs of improvement and a projected annualized revenue run rate (ARR) exceeding Rs 900 crore for FY24.
Licious’ strategic pivot occurs against the backdrop of moderate operational revenue growth in FY23, which fell short of initial projections. However, the company has witnessed encouraging signs with monthly revenue recently exceeding Rs 75 crore, suggesting improvement and projecting an annualized revenue run rate (ARR) surpassing Rs 900 crore for FY24.