Hike Messenger has started slashing off 20–25% of its labor force, with a noteworthy fraction of the impacted workers arriving from its two acquirements that it declared previous year. These acquirements include InstaLively (the social networking venture) and Creo, the hardware maker. As per a source with the know-how of the issue, the total number of cutoffs might tune in between 50 to 75 workers across regions.
When contacted by the media, a spokesperson of Hike Messenger verified the slashes but did not speak a word on the figures. “We made a handful of acquirements previous year that increased the size of the team, majorly in Bengaluru. We are streamlining and integrating these teams. Normal business it is,” a spokesperson of the company claimed to the media in an interview.
The slashes are anticipated to be all over operations, comprising accounting, human resources, and finance amongst others. Workers, as per the source mentioned above, are being offered with a severance offer, beginning with the salary of two months and much more. Hike had declared its acquisition of Creo in August 2017 for an unnamed amount. The acquirement was broadly claimed to be an acqui-hire. During the announcement, Creo was claimed to have 50 workers. Before that in February last year, it obtained Pulse (the social networking app), which was operated and controlled by InstaLively, also for an unnamed amount.
The newest developments come about 5 Months post the Delhi-located firm, established by Kavin Mittal, revealed Total—an innovative mobile operating system. This operating system offers services such as recharging and messaging without using data, aiming at the lower end of handset consumers to take on rival WhatsApp in an enhanced manner. In 2016, Hike Messenger turned out to be the youngest and the fastest startup in India to be granted the Unicorn status.