Overview
- Porter confirmed a one-time restructuring but did not disclose headcount, with media reports estimating about 300–350 layoffs and some citing over 350.
- EPFO payroll data shows roughly 2,000 employees in September, implying cuts of around 18% of staff.
- The shake-up stems from merging the truck and two-wheeler verticals to remove overlapping roles and streamline operations.
- The company says affected employees will get severance, extended medical cover and career transition assistance.
- Porter, which raised $200 million in May and is reported to be seeking another $100–110 million, posted FY25 profit of INR 55.2 crore on revenue of INR 4,306.2 crore as it eyes an IPO in 12–15 months.