Bengaluru-based e-commerce unicorn Meesho has laid off 251 employees in its third round of layoffs in just over a year. This will amount to 15 per cent of its total team strength. The firm is backed by SoftBank. 
"We have taken a difficult decision to part ways with 251 Meeshoites constituting 15 per cent of the employee base, as we look to work with a leaner organisational structure to achieve sustained profitability," the firm said in a statement.

Before this, Meesho had fired 150 employees in April last year after it rebranded its grocery arm from Farmiso to Superstore. Then in August, it fired another 300 people as it announced the closure of its grocery business. 
In a note to its employees, as reported by ET, Vidit Aatrey, co-founder and chief executive officer (CEO) of Meesho wrote that the company made "judgement errors" in over-hiring ahead of the curve.