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Asian home interior startup Livspace lays off nearly 2% of staff

Singapore- and India-based company trims workforce of 5,000

Founded in 2015, Livspace offers services including renovation, false ceilings, wall painting and modular kitchens. (Screenshot from Livspace's website)

NEW DELHI -- Asia-based home interior and renovation startup Livspace, which is aiming to achieve profitability in the next 12 to 18 months, has laid off nearly 2% of its 5,000-strong workforce.

"In a company of our size, we will, in the normal course of our operations, redeploy resources," said Livspace, valued at more than $1 billion, in an email to DealStreetAsia. "This is organic and a reflection of normal adjustments and/or performance management parameters. As a result, this also means that some employees will transition from the company, which is about less than 2% of the entire workforce."

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