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.