Third Wave Coffee, a Bengaluru-based specialty coffee and food brand, has undergone a restructuring that resulted in the dismissal of 120 employees, approximately 10% of its workforce. The move, citing a “strategic review” and the need for team consolidation, affected various departments including tech, finance, marketing, business development, and app development.
The company, backed by prominent figures like Zerodha’s Nikhil Kamath, Unacademy’s Gaurav Munjal, and Roman Saini, initiated these layoffs shortly after securing a substantial $35 million funding round. Employees reported receiving in-person notifications of their roles being discontinued without prior written communication.
There are concerns among the staff regarding the potential for further layoffs, with speculations circulating about another round occurring on December 15. While the company has assured its commitment to becoming India’s leading coffee brand post-restructuring, the abrupt staff reduction has left employees uncertain about the future.
