Friday, 24 March, 2023

Sequoia-funded GoMechanic Layoff 70% Employee Due to ‘Grave Errors’ In Financial Reporting

<p>Sequoia India-backed business GoMechanic has laid off 70% of its workers. Co-founder of GoMechanic Amit Bhasin said that the company committed &quot;severe mistakes in judgment as we pursued expansion at all costs, particularly in relation to financial reporting, which we greatly regret.&quot; The business has also instructed the remaining employees to work for free for three months.</p>