Laid off from my job at 1% Club, Sharan Hegde’s “financial planning” startup - "Personal Finance"

Laid off from my job at 1% Club, Sharan Hegde’s “financial planning” startup - "Personal Finance"

I joined this edtech/fintech company, 1% Club, thinking it was a solid opportunity. They’re all about promoting “financial literacy” and “responsibility,” but day before yesterday they blindsided me with a layoff email. Turns out, around 40 of us are getting cut, including people who literally moved cities for this job.

The best part? They hired over 150 people, got an office in one of the priciest parts of Mumbai (Jogeshwari), all with just Rs 10 crore funding. The “planning” here is top-notch. How does a company that’s supposed to teach financial planning not see that maybe they should wait before splurging on office space and new hires?

They’ve terminated various VPs and AVPs, half of the video editors, all content creators and almost all the graphic designers. Don’t know how 2-3 people are going to manage all of the designs lol and who is going to create content for their page. They’ve cut down the marketing team to just 2 employees, events team down to 4 employees, when they have an event with 200 people coming up next week. And doing this right after Diwali is the most asshole move ever.

I’m pretty pissed and feel for everyone else who got axed with me. Here’s to hoping they figure out “financial literacy” on their own, because they clearly need it more than their customers.