Two startup founders based in Bengaluru on Wednesday announced a workforce reduction within their company, citing a strategic shift from rapid expansion to sustainability.
However, Sambhav Jain and Kush Taneja, the co-founders of the fintech application Fam, offered assistance to the 18 impacted employees in finding alternative employment opportunities.
Both Jain and Taneja have reached out to several recruiters, urging them to connect for relevant profiles and referrals. Jain acknowledged the difficulty of making such decisions, emphasising that it is especially challenging for a people-centric organisation like theirs, where emotional connections are strong.
He expressed pride in the passionate team they’ve cultivated over the years but highlighted that due to the altered company focus, they couldn’t provide roles that aligned with personal growth for the affected employees.
The shift in focus, as explained by Jain, led to the inability to offer positions that would have supported individuals’ growth, fuelled their enthusiasm, and brought them joy in their work. Jain’s tweet also included an appeal for hiring opportunities in EPD (Engineering and Product Development) and growth functions, inviting interested parties to connect for relevant profiles.
Kush Taneja also addressed the situation on Twitter, expressing gratitude for the contributions of the departing employees and offering them as potential assets to other teams. However, the founders’ appeal to being a “people-first” organisation received varied responses. Some recruiters responded positively, while others questioned the company’s approach, highlighting that layoffs can be inconsistent with such claims.
One X user said, “As a business, people are hired and fired but don’t call yourself ‘people-first’ or ‘family’ if the first thing you do when funding shrinks is firing people…Family doesn’t throw out its members when ration is less.”
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