Porter Lays Off Over 300 Employees Ahead Of Public Listing, Calls It A ‘One-Time Restructuring’
The company did not share the exact number of employees affected, but according to reports, around 300 to 350 workers have been laid off.
On-demand logistics platform Porter has announced job cuts as part of its efforts to reduce costs and strengthen its operations.
The company did not share the exact number of employees affected, but according to reports, around 300 to 350 workers have been laid off.
In a statement, Porter said it is going through a transition aimed at building a stronger, more agile, and financially stable organisation.
The company described the layoffs as a “one-time restructuring” decision made after careful consideration.
"We're in the midst of a transition that required a one-time restructuring, aimed at building a stronger, more agile, and financially resilient organisation for the road ahead," Porter said.
"As part of this journey, we've had to make some difficult decisions that affect our people, choices that were not easy and were made after careful consideration," it added.
The move comes as Porter prepares for a possible public listing. Reports suggest that the company is in the final stages of securing $100–110 million in new funding from both existing and new investors.
This would raise the total investment in Porter to about $300–310 million as part of an extended funding round.
Earlier in May, Porter had raised $200 million in a round led by Kedaara Capital and Wellington Management, valuing the company at around $1.2 billion.
Founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Choudhary, Porter offers a range of logistics services, including on-demand trucking, courier services, packing and moving, and enterprise logistics.
In the financial year 2025, Porter reported a 57 per cent increase in operating revenue to Rs 4,306 crore and turned profitable, posting a net profit of Rs 55 crore compared to a loss of Rs 96 crore in the previous year.
The company said the restructuring is part of its plan to ensure long-term growth and efficiency as it continues to expand in the competitive logistics market.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
Related Video
Union Budget 2025: Arvind Kejriwal lists the shortcomings of the Modi government's budget | ABP News | AAP
Top Headlines
