Bengaluru-based fintech app Fam, founded by Sambhav Jain and Kush Taneja, announced a layoff of 18 employees, stating a shift in focus from hyper-growth to sustainability. But the founders have expressed their willingness to assist the affected employees in finding new job opportunities.
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In a tweet, Jain acknowledged the difficulty of letting people go, particularly in a people-first organization like Fam, where emotional connections are strong. He emphasized that despite being proud of the passionate team they have built, the company’s altered direction prevented them from offering roles that could support personal growth. Jain further stated that the company empathizes with the laid-off employees and is confident in their abilities to achieve great things elsewhere.
Taneja also took to Twitter to express his sadness about the layoff, expressing gratitude for the contributions made by the departing team members.
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He urged potential recruiters to reach out if they were searching for talented individuals to join their teams.
However, the founders’ appeal received mixed responses, with some Twitter users questioning the company’s claim of being “people-first” when resorting to layoffs. One user suggested that if a company truly values its employees, it wouldn’t let them go during difficult times. Another user raised concerns about expecting passion from a team that can be laid off without any fault of their own.
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Despite these criticisms, multiple recruiters showed interest in the laid-off employees, with one recruiter expressing confidence in Fam’s resilience and offering potential opportunities.
