- Virgio, a fashion startup founded in 2022 by Amar Nagaram, a former top executive of Myntra, has recently undergone a workforce restructuring.
- This restructuring resulted in the layoff of 20 employees, which represents approximately 33% of its workforce.
- The cost-cutting exercise at Virgio primarily affected senior staff members, according to a report by Moneycontrol.
- The company acknowledged that it had made some hiring mistakes and aimed to rectify them promptly as part of its restructuring efforts.
- In addition to the layoffs, Virgio has also restructured its top leadership and is actively recruiting to fill the vacant positions. It recently pivoted from a fast fashion focus to becoming a sustainable fashion company.