PaisaBazaar cuts around 50% of its workforce

Paisabazaar has laid off around 2000 employees, almost 50% of the total staff, due to the slowdown caused by  COVID-19 lockdown. Paisabazaar — part of PolicyBazaar, is a unicorn and backed by SoftBank, have another 6,000 people in its team. Media reports said that the slowdown has hit the Paisabazaar’s revenue by around 90%. Following the coronavirus impact, Oyo, Curefit, Swiggy, Ola, and Zomato have also cut their team sizes by 10-30%.

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