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Notebook sorting: Fintech startup Khatabuk has laid off 42 employees, which is six percent of its total workforce. The company said on Friday that the layoffs are to adjust the business in line with profitability targets. Before the layoffs, the company had 700 employees.
A spokesperson of Khatabuk said – Six percent of the employees have been affected by this. All affected employees have been given three months salary, share sale option and extension of health insurance. After the first round of funding, Khatabuk was valued at around Rs. 4,500 crores. Sequoia Capital, Tencent, Tribe Capital and Moore Strategic Ventures invested in it.