ShareChat cuts 200 jobs in third round of layoffs this year

Vernacular social media platform ShareChat on Wednesday said it laid off 15% of its staff in a bid to streamline costs and achieve profitability within the next 4-6 quarters.

The 15% headcount translates to about 200 employees at the company backed by the likes of Google and Temasek Holdings. This is the third round of layoff in a little over a year at ShareChat, which has been trying to reduce operating costs.