Licious lays off 80 employees

Omnichannel meat retailer Licious Licious has laid off 80 employees, representing 3% of its total employee base. The firm said the layoffs were part of an “operational reset to sharpen growth focus”.

It has 650 corporate employees and 2,350 employees running the production and supply chain.

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The impacted employees are being offered two months’ salaries as compensation, along with the variable payment for FY24, it added in a statement.

The firm is the only unicorn in its sector, which has seen a gradual slowdown over the past year and a half.

The firm had reported a 9% growth in revenue for FY23 to Rs 748 crore, against a reported revenue projection of Rs 1,500 crore

The meat and seafood company has been working to expand its range of ready-to-eat products. Late last year, it also came out with its own plant-based meat brand, UnCrave, as it tried to tackle the seasonal nature of the business—a large number of Indians do not consume meat during festivals.

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