Twitter rival Koo fires 30% of employees

Homegrown microblogging platform Koo has laid off 30% of its around 300 employees in recent months amid increase in losses, fall in active users, and weak global sentiment.

The Tiger Global-backed company has laid off employees in two cycles from September to March, people in the know said. In September last year, the company laid off 15 staffers and collectively the number of layoff is around 90.

“It’s important for businesses of all sizes to adopt efficient and conservative approaches to see this period through. In line with this, we have acted on some role redundancies by letting go of 30% of our workforce over the course of the year and have supported them through compensation packages,