Criticism erupts as CEO and content creator Sharan Hegde fires 15% of employees at 1% Club

Layoffs at 1% Club: Content creator Sharan Hegde has come under fire after he recently made a post on LinkedIn detailing his company’s profits and a piece of layoff information next. He has fired 15% of the staff at 1% Club.

Since its founding in 2022, 1% Club claims that it has been helping people gain financial independence. But in his post, Hegde detailed a business update before mentioning the layoffs. This approach struck many as indifferent to the affected employees’ situation.

For instance, the Chief Executive Officer noted the company’s $8 million annual revenue, high profitability and significant customer base, and even highlighted that the business is largely self-funded and that the investor money has been invested in an FD earning interest.

1% Club layoffs: Sharan Hegde’s post lures sharp criticism

The reaction to Sharan Hegde’s original post on LinkedIn has been quick. Numerous entrepreneurs, influencers and everyday netizens have criticised the financial content creator. Before his current role, he has been an employee at 2 of the Big Four companies.

One user on X remarked that: “Hegde got c**** after a Rs 10 crore funding – leased a 5,000 square feet office to flex on Instagram, went on a hiring spree, only to find artificial intelligence 10x smarter. Now he has started laying off people.”

But there is a small group of people that defend Hegde’s LinkedIn announcement, arguing that critics likely have not managed a business themselves and might not understand the financial pressures or strategic calls involved, reported India Today.

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