IPO-bound Good Glamm Group lays off 150 employees in a strategic revamp

Delhi: The Good Glamm Group has laid off around 150 employees, or 15% of its workforce, in a restructuring exercise undertaken to turn profitable in FY25.

According to media reports, this is ahead of its IPO plans for 2025. The company told the media in a statement, “This strategic initiative marks the culmination of the company’s final phase of team integration with a steadfast aim to be a profitable company in FY25.”

The Good Glamm Group further stated, “The agile organisational framework has been created by the Group to focus on maximising value for customers (internal and external) by minimising lags in execution and operations. This included the Group streamlining overall ways of working between departments by increasing cross-departmental responsibilities, faster decision-making by empowering junior managers with controlled budgets and collapsing hierarchies, and eliminating redundancies (people, process, and system) for reducing steps in execution and enhancing productivity.”

According to reports, as part of the restructuring measure, several elevations in appointments have been made by the company, including Manan Jain as group COO and Ashish Jadhav as group head of product. The startup has also appointed Kamal Lath as the Group CFO.

Meanwhile, The Good Glamm Group also announced the GlammSOP program for its high-performing employees that will allow for accelerated vesting of their ESOPs at the IPO.