Sharechat management has told employees in a townhall that it does not have immediate plans to hire a chief technology officer and chief operating officer to replace co-founders Bhanu Pratap Singh and Farid Ahsan, respectively, who have stepped down from their roles, according to sources.
This was communicated to employees in a company townhall on January 25, hours after an internal note announced that the co-founders are stepping down. A source also said that efforts were to downplay the exits, with jokes being cracked about the duo taking time off to spend it with their partners.
Last week, the Google and Twitter-backed social media company fired close to 600 employees in a bid to prune expenses.
While Ahsan was the chief operating officer, Singh had been the chief technology officer till now. The CEO said in the note accessed by Moneycontrol that senior Sharechat executives Manohar Singh Charan and Gaurav Bhatia will lead the management and engineering functions, respectively, from now on.