On one side, when India's startup industry is booming and chasing skies, a Reddit user has shared his devastating experience working at a 4-year-old startup. Unidentified of their name the Reddit user shared that the startup they were woking in shut down with immediate effect. The employee also shared that the CEO of the startup called all the staff members over an online meeting and informed them to not report at work from tomorrow. The CEO mentioned that the unexpected decision was taken as the company ran out of money.
Sudden Shock To The 19 Employees
Total 19 employees lost their jobs due to the sudeen development. According to what was shared on Reddit, no prior warning or bridge funding was done before announcing the decision. The employees were also informed that they won't be getting the salary of the last month they worked.
CHECKOUT THE POST:
The employee wrote in his post, "It was supposed to be just another normal workday at our (now former) startup. But around midday, we all got an unexpected email from the CEO calling for an urgent all-hands meeting. In that meeting, he told us something none of us saw coming: the company had completely run out of money. We wouldn’t be getting paid this month, and effective immediately, the company was shutting down. All of our investors had pulled out. He told us not to report to work the next day. And just like that, a four-year-old startup was gone. Nineteen people, myself included, are suddenly out of a job."
We had our struggles, sure, but there was no warning. No layoffs. No bridge funding. No communication that we were in real trouble. The CEO said he’d try to help us find new roles through his network, but honestly, I don't know how much to count on that, the employee added.
Netizens Came In Support
The netizens came in support of the employee, sharing similar experiences and uplifting his emotions. One user shared, "I was exactly in this situation last month. I know how overwhelming it feels right now. Take some time to process it. Reach out to HR, they probably know people with openings for your experience, although chances might be small.
Another user commented, "This shall too pass. Opportunities arise out of no where. For now keep belief in yourself alive. It is tough time for sure. But keep fighting."
