Former employees await final settlements as company grapples with liquidity issues
The Good Glamm Group has delayed salary disbursements for the second consecutive month, as the company continues to battle significant financial headwinds. Despite previous assurances that both April and May salaries would be cleared in June, employees had not received payments as of June 3 – fueling growing concerns and uncertainty across teams.
The payment delays have extended beyond current staff. Former employees report that their full and final settlements are still pending, compounding the fallout of the company’s ongoing cash crunch.
Good Glamm has struggled to raise fresh capital since January, with several potential funding deals failing to materialize. In response, the company has turned to portfolio restructuring as a means of shoring up liquidity. Discussions are underway to return Organic Harvest to its original founders. In a similar move earlier this year, Sirona was sold back to its founding team for ₹150 crore – a steep drop from its original ₹450 crore acquisition valuation.
Read More: BREAKING: Good Glamm Group sees silent layoffs amid financial woes and strategy missteps
The company’s financial pressures have triggered multiple exits, including that of Kartik Rao, former Chief People Officer, who has since joined AI recruitment startup Vahan.ai. Concerns are also being voiced by freelancers. In one instance, copywriter Babita Bharati shared on LinkedIn that she had not been paid ₹18,100 for a project with The Moms Co, attributing the delay to pending investor commitments.
As part of a larger operational overhaul, Good Glamm shut down its Vasant Kunj office earlier this year, briefly relocated to Greater Kailash, and has now fully shifted to a remote working model. The group is also in advanced talks to divest MissMalini Entertainment to Creativefuel, a marketing agency, as it continues to recalibrate its business portfolio.
Investor sentiment has noticeably cooled. In January, board representatives from key investors – Accel, Prosus Ventures, and Bessemer Venture Partners – stepped down, signaling a lack of confidence. Although the company managed to raise $30 million in March to address immediate working capital needs, efforts to secure a larger funding round remain stalled.
As uncertainty grows within the organization, the delays in salary payments and strategic asset sales point to a company in urgent need of financial stabilization and investor backing.
