Livspace churn continues: CBO Lalit Mittal quits after 1,000 layoffs, co-founder exit

Lalit has decided to embark on his own entrepreneurial journey after an incredible 6 years with us where he drove a 4x business growth, a spokesperson said

Lalit Mittal, chief business officer at Livspace, has quit, marking the second senior-level departure at the company within days, people aware of the matter told Moneycontrol. The back-to-back exits at the top come at a time when the startup is already undergoing organisational changes.

Mittal is departing just a few days after Moneycontrol exclusively reported Saurabh Jain, India CEO and co-founder at Livspace is stepping down from his position. The Bengaluru-based company has also fired at least 1,000 employees as it looks to lower costs and use artificial intelligence (AI) to make operations more efficient, as reported earlier.

Livspace confirmed the developments to Moneycontrol.

“We can confirm...Lalit Mittal, who served as our Chief Business Officer, transitioned out of the company over a month ago. Lalit has decided to embark on his own entrepreneurial journey after an incredible 6 years with us where he drove a 4x business growth. We are incredibly grateful for his contributions and leadership during his tenure, and we wish him the absolute best as he builds his next venture." a company spokesperson said in response to queries.

Mittal and Jain worked together closely on multiple projects.

At Livspace, Mittal played a key role in running India operations along with CEO Jain and other top executives. Mittal, who has been at Livspace for over six years, was elevated to the role of CBO when co-founder Jain moved from being the CBO to become CEO of Livspace India in 2022.

It remains unclear who will replace Mittal as CBO at Livspace.

The company also dismissed concerns around back-to-back senior leadership exits. "We view these transitions as a natural evolution of a mature, high-growth organisation. In fact, Livspace has a very successful history of 'graduating' leaders who go on to build significant companies of their own," the spokesperson added.

Livspace, over the years, has reduce losses and improved its top line. In FY25, Livspace increased sales to Rs 1,460 crore, up 23 percent from Rs 1,185 crore in FY24. Its losses shrunk from Rs 416 crore to Rs 242 crore during the same period.