top of page

Cult.fit Takes Strategic Measures: Streamlines Workforce to Control Cash Burn, Prioritizing Financial Resilience and Growth

Cult.fit, the fitness unicorn backed by investors such as Zomato and Tata Digital, has reportedly initiated a workforce reduction, laying off approximately 150 employees in a bid to control cash burn. The decision is said to be driven by a strategy to reduce the current cash burn, estimated to be around Rs 15 crore. Despite the recent layoffs, Cult.fit has demonstrated financial resilience, with a 20% reduction in losses in the previous fiscal year ending in March 2023.

The company reported a significant increase in revenue from operations, reaching Rs 694 crore in FY23 compared to Rs 216 crore in FY22, as per consolidated financial statements filed with the Registrar of Companies. The move to streamline operations aligns with Cult.fit's commitment to sustained financial health and strategic growth, while remaining dedicated to its core mission of making fitness accessible and enjoyable for individuals across the nation. As of now, the company has not provided an official statement regarding the workforce reduction.

Comments


bottom of page