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Sequoia-backed Pagarbook lays off around 80 employees due to cash crunch

Shortpedia

Content Team
Image Credit: Inc42

Staff attendance and payroll management software Pagarbook has reportedly fired around 80 employees. The Bengaluru-based company laid off these employees last month due to multiple reasons ranging from product failure to shortage of cash. The recent happening is something quite opposite to the trend that Indian startups are witnessing riding high on cash and finding new ways to hire more employees.