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MyGate Lays Off 30% Workforce: Report The report further added that Tencent Holdings and Tiger Global-backed company had laid off a similar percentage of employees in an earlier round of layoffs in December 2022

By Teena Jose

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MyGate Twitter handle

Bengaluru-based apartment management provider software provider, MyGate, has laid off 30% of its employees from across the teams, according to a YourStory report citing multiple sources. The report further added that Tencent Holdings and Tiger Global-backed company had laid off a similar percentage of employees in an earlier round of layoffs in December 2022.

"MyGate is doing well, and we are actively hiring to expand our teams in certain areas. We are a high-performance culture—from time to time, we part ways with employees who aren't a good fit at MyGate, or if our requirements and opportunities warrant the same," a spokesperson for the company told YourStory.

MyGate came up with a community management solution to take brands to people's homes if they could not go out. The company was founded in 2016 and is a subsidiary of its parent company Vivish Technologies.

Currently, as per the report, MyGate has a total of 400 employees, down from nearly 600 employees before the recent round of layoffs. One of the sources reportedly confirmed that MyGate offered some employees two months of severance pay while others were not paid any severance. Also, the layoffs have affected mainly mid-manager level and junior-level employees across ground operations and community engagement platform verticals.

Founded in 2016 by Vijay Arisetty, Shreyans Daga, and Abhishek Kumar, MyGate app provides staff attendance, complaint management, paying maintenance, and communication services for resident welfare associations through its SaaS product.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
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