19 C
Thursday, May 23, 2024

Good Glamm Group lays off 15% of employees as it focuses on achieving profitability

Must read

Beauty business and content to commerce company Good Glamm Group has laid off approximately 15% of its employee base as part of its team integration in a bid to become profitable during the current financial year.

Good Glamm Group runs cosmetics business MyGlamm – MyGlamm- Facebook

“This strategic initiative marks the culmination of the company’s final phase of team integration with a steadfast aim to be a profitable company in FY25,” Good Glamm Group in a statement, ET Tech reported. “The optimisation [layoffs] was a result of the integration getting completed between the different acquired companies.”
Around 150 Good Glamm Group employees have been laid off. The business has also promoted a number of its senior management members including announcing Ashish Jadhav as its group head of product and Manan Jain as its group chief operating officer.
“The integrations further resulted in promotions of high performing individuals from acquired companies to senior group roles,” said the business in a statement. Jain previously worked for Popxo which was acquired by Good Glamm Group in 2020.
Several of Good Glamm Group’s executives had recently left the business including its former chief financial officer Piyush Kalra and its co-founder Priyanka Gill. In March, the business announced Kamal Lath as its new chief financial officer.

Copyright © 2024 FashionNetwork.com All rights reserved.

Source link

- Advertisement -spot_img

More articles

- Advertisement -

Latest articles