Cash-strapped Urban Ladder lays off hundreds of employees

Omnichannel furniture retailer Urban Ladder has been trimming flab to sustain its operations, but its leadership team claims it is just a couple of months away from turning EBITDA (earnings before interest, tax, depreciation and amortisation) positive.

Industry sources as well as former Urban Ladder employees told BusinessLinethat the start-up let go of 40 per cent of its headcount in the quarter that ended in March.

Elusive profitability

Urban Ladder’s inability to raise more funding and a struggle to turn profitable were the major reasons cited by the management to the employees who were handed pink slips.