Overview
- Sources put layoffs at roughly 300–350 employees across teams, with EPFO data indicating about 18% of the payroll.
- Porter declined to disclose a headcount but called the move a one-time exercise and announced severance, extended medical cover, and career support.
- The consolidation is intended to streamline operations and eliminate overlapping roles across logistics verticals.
- The cuts follow fundraising that valued Porter around $1.2 billion, with reports of talks to add $100–110 million after a $200 million round in May.
- Porter reported FY25 profitability with a Rs 55 crore net profit on Rs 4,306 crore in operating revenue and is preparing financials for a potential IPO within 12–15 months.