Get All Access for $5/mo

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

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

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.
News and Trends

AWE Funds to Scale Women-Led ClimateTech Initiatives with CGEF Grant

The grant will empower AWE Funds to expand initiatives, invest in women-led climate companies, enhance accelerator programs, and launch a fellowship nurturing young women professionals in climate and sustainability.

News and Trends

India's Data Center Capacity to Reach 2,070 MW by End of 2025: CBRE

Cumulative investment commitments in the data center sector in India to cross USD 100 billion by 2027. Mumbai, Chennai, and Delhi-NCR to lead data center supply addition

Growth Strategies

Amazon To Improve Services In Tier II, III Cities: Samir Kumar, Country Manager

The bigger share of our business is coming from Tier II,III and beyond, says Samir Kumar, country manager, Amazon India

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

News and Trends

Former Cleartrip CEO Ayyappan R Eyes Quick Commerce with FirstClub

After stepping down as Cleartrip's CEO earlier this year, Ayyappan brings his expertise from leading positions at Flipkart, including his role as chief business officer at Myntra.