Quikr merger: CommonFloor sees job cuts, over 150 asked to leave

BENGALURU: The costly acquisition of CommonFloor by online classifieds firm Quikr is taking a toll on the former's employees. Quikr, which paid around $100 million for the real estate inventory aggregator, is laying off more than 150 CommonFloor employees.

The process had started in February and many CommonFloor employees have left the company since then. CommonFloor had 1,000 employees around the time of the merger, while Quikr had 350 employees in its real estate division and its total employee count was 1,600.

Quikr emailed the following statement to TOI: “Bengaluru will now serve as the main hub for all business functions of both Quikr and CommonFloor. As part of the overall integration exercise, we have been analysing all our assets and believe it is best to consolidate our physical as well as people assets based on our business needs.“ CommonFloor did not comment.